Canadian Employment (January 2023)
Canadian employment rose to 20.03 million in January, up by 150,000 (0.5 percent). The Canadian unemployment rate held steady at 5 percent, hovering just above all-time lows. Employment gains were concentrated among workers aged 25 to 54; workers in Ontario, Quebec, and Alberta; and workers in wholesale and retail trade, health care and social assistance, and educational services. Average hourly wages were up 4.5 percent from January of last year, while total hours worked were up 5.6 percent year-over-year.
Employment in BC rose by 7,700 (0.3 percent) to 2.771 million in January, while Metro Vancouver's employment rose by 0.4 percent month over month. BC's unemployment rate rose to 4.4 percent, still near record lows, while Metro Vancouver's rate rose to 4.7 percent. Among the provinces, only Quebec, Manitoba, and Saskatchewan currently have a lower unemployment rate.
Source - BCREA
