Canada’s unemployment rate fell to 5.3%, the lowest level in history

Toronto (Canada), April 8 (EFE). – Canada’s unemployment rate fell to 5.3% in March, the lowest level since statistics began compiling in 1976, after creating a net last month of 73,000 jobs, according to the public body. Statistics Canada (EC) on Friday.

Although job creation was lower than analysts expected (80,000), this number helped reduce the unemployment rate by twenty and put it at this historic low.

The sector in which employment grew the most was services (42,000 more jobs) and the rest of the new jobs were created in manufacturing (31,000 more).

In a statement, the European Commission noted that the number of hours worked increased by 1.3% in March, while wages had grown by 3.4% in the past 12 months.

Job creation coincides with the elimination of restrictions caused by the pandemic in the country. In some key provinces in the country, such as Ontario, Quebec, Manitoba and Alberta, authorities in March lifted capacity restrictions in buildings, as well as vaccination requirements.

In September 2021, the Canadian economy regained all the jobs it lost during the pandemic.

Since then, Canada has created 463,000 net jobs. Of that number, the largest gains were recorded in retail, construction, health and social assistance, and information, culture and entertainment.

In November 2021, Statistics Canada reported that the country had one million job vacancies, mainly in sectors such as hospitality. EFE

jcr / bamp / yes

© EFE 2022. Redistribution and retransmission of all or part of the contents of the Efe Services, without the prior and express consent of Agencia EFE SA, is expressly prohibited.