Monthly Jobs Report

Every month, Adecco Canada interprets the data from Statistics Canada’s Labour Force Survey. Here’s what happened in February:

Employment held steady in February after three months of grow

Employment remained steady in February, following three months of growth and the employment rate held at 61.1%, maintaining the gains seen in recent months. The latest efforts from the Canadian government are showing results as the population growth among those aged 15 and older has also slowed, with February recording the slowest increase since April 2022.

Employment gains were notable among core-aged women (25-54 years old), rising by +0.4% in February, while employment for core-aged men remained stable. Employment declined among those aged 55 and older, mainly among women, while youth employment saw little change.

The labour force participation rate fell to 65.3% in February, marking the first decline since September 2024. This drop was mainly driven by lower participation among youth (-0.8 percentage points) and those aged 55 and older (-0.2 percentage points).

Unemployment rate holds steady at 6.6%

The unemployment rate remained unchanged in February at 6.6% following two consecutive months of decline from 6.9% registered in November 2024.

Unemployment fell for core-aged women (5.4%) and youth (12.9%), while it increased slightly for core-aged men (5.9%) due to more job seekers. Youth unemployment saw a notable decline over the past two months after reaching a 12-year high in late 2024.

Employment fell in Nova Scotia and Quebec holds the lowest unemployment rate

Employment dropped mostly in Nova Scotia by -0.8% in February, mainly in part-time jobs, causing the unemployment rate to rise to 6.6%. British Columbia followed with a loss of 4,800 jobs for a -0.2% decline. In contrast, employment remained steady in all other provinces.

Quebec had the lowest unemployment rate (5.3%), while Newfoundland and Labrador had the highest (10.5%). Ontario saw little job change, but a decrease in job seekers helped lower its unemployment rate to 7.3%.

Employment gains led by the wholesale and retail trade sector

Employment grew the most in wholesale and retail trade (+1.7%) in February, continuing an upward trend since mid-2024. The finance, insurance, real estate, rental, and leasing sector also saw significant job gains (+1.1%).

On the other hand, professional, scientific, and technical services saw a decline (-1.6%), ending a period of steady growth. Transportation and warehousing also experienced job losses (-2.1%), offsetting gains from previous months.

Core-aged women are more likely to work multiple and part-time jobs

The employment rate for core-aged women (25-54) stood at 80.5%, remaining above pre-pandemic levels. However, women in this age group were more likely than men to work part-time (15.7% vs. 6.1%) and hold multiple jobs (7.6% vs. 5.2%), often due to caregiving responsibilities.

Women in certain industries, such as accommodation and food services, healthcare, and education, were particularly likely to hold multiple jobs. Although the gender age gap has narrowed over the years, core-aged women earned on average only $0.88 for every dollar earned by men.

Don’t have time for a long reading? We’ve summarized the key takeaways from this month:

• Employment remained virtually unchanged in February while the employment rate stood at 61.1% following three consecutive months of gains.
• The unemployment rate also held steady at 6.6% accumulating a -0.3 percentage point decline since November 2024.
• Most provinces saw little change in their employment levels, but Nova Scotia experienced the most significant drop with a -0.8% decline in February.
• Employment rose mostly among core-aged women, increasing by +0.4% while holding steady among men of the same age group. This increase among women aged 25-54 was offset by declines in other women age groups.
• Among industries, wholesale and retail trade led employment gains (+1.7%), followed by finance, insurance, real estate, rental and leasing (+1.1%). On the other hand, employment fell in professional, scientific and technical services (-1.6%) and transportation and warehousing (-2.1%).
• Average hourly wages increased by +3.8% (a $1.32 raise to $36.14) compared to February 2024.
• Total hours worked in February declined by -1.3% in February while rising +0.5% compared to February 2024.

References

Statistics Canada. (2022). Table 14-10-0287-01 Labour force characteristics, monthly, seasonally adjusted and trend-cycle, last 5 months [Data table]. https://doi.org/10.25318/1410028701-eng

Statistics Canada. (2022). Table 14-10-0355-01 Employment by industry, monthly, seasonally adjusted and unadjusted, and trend-cycle, last 5 months (x 1,000) [Data table]. https://doi.org/10.25318/1410035501-eng