Employment in Canada rose slightly last month after January's jobs report raised eyebrows among economists anticipating a slowdown in the labour market this year.
Last Updated Friday, March 10, 2023 9:52AM ESTreport raised eyebrows among economists anticipating a slowdown in the labour market this year.in February, with employment up in the private sector.
The bulk of the job gains were made in health care and social assistance, public administration and utilities. Meanwhile,In January, the economy added 150,000Though conditions in the labour market remain quite good - with unemployment just above the all-time low of 4.9 per cent - Statistics Canada's latest report showed a return to more modest employment growth.
Signs of that slowdown are already apparent. In the fourth quarter, the Canadian economy was treading water, posting zero per cent growth.report shows the gap between wage growth and inflation is narrowing. Average hourly wages were up 5.4 per cent in February compared with a year ago while annual inflation rate was 5.9 per cent in January.
But the central bank says it expects the labour market to ease in the coming months, as higher interest rates slow spending by people and businesses.
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