Canada's unemployment rate increased to 6.1% in March, the largest jump since summer 2022, as more people entered the job market. The economy lost 2,200 jobs, and high interest rates and population growth continue to impact the country's labor supply. Youth unemployment also rose, with a decline of 28,000 jobs for those aged 15 to 24.
OTTAWA — Canada ’s unemployment rate jumped to 6.1 per cent in March as more people looked for work, Statistics Canada reported Friday.
The federal agency’s labour force survey shows employment was little changed last month, with the economy shedding 2,200 jobs, after modest increases over the last several months. Friday’s report shows job losses last month were concentrated in accommodation and food services, followed by wholesale and retail trade and professional, scientific and technical services.Statistics Canada says the rise in the jobless rate was driven by an increase of 60,000 people searching for work or temporarily laid off.
Despite weaker labour market conditions, wage growth continued to grow rapidly, with average hourly wages rising 5.1 per cent annually.
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