Canada's unemployment rate fell to 6.6% in January as the country added 76,000 jobs, exceeding economist predictions. The manufacturing sector led job growth, adding 33,000 positions, while full-time employment rose by 35,000. Wage growth continued to slow, increasing by 3.5% year-over-year. The positive employment data comes amid ongoing trade tensions between Canada and the U.S.
Workers stack and sort softwood lumber at Groupe Crete, a sawmill in Mont-Blanc, Que., Monday, Jan. 20, 2025. THE CANADIAN PRESS/Christinne Muschi
Economists polled by Reuters had expected about a third of that job growth, and for the unemployment rate to rise slightly. The manufacturing sector carried the largest employment gains, adding 33,000 jobs — a third of those in Ontario alone. Though the sector’s gains were little changed year-over-year, adding 28,000 jobs since January 2024.
Meanwhile, across all sectors, full-time employment rose by 35,000 in January, with another 40,900 part-time jobs.
EMPLOYMENT CANADA LABOR MARKET MANUFACTURING WAGES
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