The economy lost almost 213,000 jobs in January but in February regained those numbers and added many more in Canada. (Pixabay)

The economy lost almost 213,000 jobs in January but in February regained those numbers and added many more in Canada. (Pixabay)

Unemployment rate falls in February to lowest since March 2020: StatsCan

The Canadian economy added 259,000 new jobs this February

Statistics Canada says the economy added 259,000 jobs in February, almost wiping out losses sustained over the previous two months.

The economy lost almost 213,000 jobs in January as lockdown measures erased months of gains, and marked the worst monthly declines since last April.

February’s reopenings reversed that drop with gains largely in Ontario and Quebec, and in sectors highly affected by tightened public health restrictions.

The national unemployment rate fell to 8.2 per cent, the lowest level since March 2020 at the onset of the COVID-19 pandemic, and down from the 9.4 per cent recorded in January.

Statistics Canada says the unemployment rate would have been 10.7 per cent in February had it included in calculations Canadians who wanted to work but didn’t search for a job.

The figures blew past expectations of a gain of 75,000 and an unemployment rate of 9.2 per cent, according to financial data firm Refinitiv.

CIBC senior economist Royce Mendes writes that the quick turnaround in jobs numbers is reminiscent of the first wave of the pandemic when employment rebounded far faster than expected as the economy began reopening.

However, he says in a note that the labour market has a long way to get back to where it was prior to COVID-19.

The gains now leave the country 599,100 jobs short of where they were in February of last year, or 3.1 per cent below pre-pandemic levels.

The federal government is keeping a close eye on the labour market, suggesting it will use jobs as a gauge for planned stimulus measures to be unveiled in a spring budget.

So too is the Bank of Canada monitoring employment, noting the uneven impacts of job losses in its reasoning this week for holding its key policy rate at 0.25 per cent.

Jobs

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

B.C's COVID-19 dashboard shows the peaks and valleys of cases prior to the record daily report of 132 on April 9, 2021. (Dashboard image)
Interior Health has record day of COVID-19 cases

132 cases reported Friday, April 9, more deaths in Vernon hospital outbreak

The BC Wildfire Service will be partnering with Simpcw First Nation this month in the implementation of a prescribed burn next to their community of Chu Chua. The controlled burn will be highly visible to Highway 5 and all communities in the immediate area. Pictured is a prescribed burn that took place on the Kanaka Bar Reserve last month in partnership with the Kanaka Bar Band and BC Wildfire Service. (BC Wildfire Service Facebook photo)
Simpcw and BC Wildfire Service to hold controlled burn near Barriere

Burn will be highly visible to Chu Chua, Barriere, Darfield, Chinook Cove, Little Fort and Highway 5

District of Clearwater meetings are open to the public. The meeting agendas and past meetings minutes can be viewed on the DOC's website. Every meeting has time allocated at the end for comments from the public.
Clearwater to benefit from funding through Ministry of Tourism initiative

The District’s Trails Task Force was sucessful in securing a grant for $684,000.

Carlos Sigurnjak went missing about 4 p.m. on Tuesday, April 6, according to a Facebook post by his family. (Facebook/Carlos Sigurnjak profile)
UPDATE: Clearwater RCMP find missing man from Kelowna

Sigurnjak was found just before 2 p.m. April 8 by a passerby.

The Peach is adhering to the mandatory mask protocols put in place by the Provincial Health Officer on Nov. 19. (Monique Tamminga Western News)
Interior Health doesn’t echo B.C.’s daily COVID record

80 new cases reported Thursday, April 8, compared to 91 the day prior

B.C. Health Minister Adrian Dix and Premier John Horgan describe vaccine rollout at the legislature, March 29, 2021. (B.C. government)
1,262 more COVID-19 infections in B.C. Friday, 9,574 active cases

Province’s mass vaccination reaches one million people

People walk past the Olympic rings in Whistler, B.C., Friday, May 15, 2020. Whistler which is a travel destination for tourists around the world is seeing the effects of travel bans due to COVID-19. THE CANADIAN PRESS/Jonathan Hayward
Adults living, working in Whistler, B.C., eligible for COVID-19 vaccine on Monday

The move comes as the province deals with a rush of COVID-19 and variant cases in the community

RCMP crest. (Black Press Media files)
UPDATE: RCMP investigating after child, 6, dies at motel in Duncan, B.C.

The BC Coroners Service is conducting its own investigation into the circumstances around the child’s death

RCMP display some of the fish seized from three suspects who pleaded guilty to violating the Fisheries Act in 2019, in this undated handout photo. THE CANADIAN PRESS/HO - RCMP
3 banned from fishing, holding licences after overfishing violations near Vancouver Island

Mounties seized the group’s 30-foot fishing vessel and all equipment on board at the time

B.C. Premier John Horgan responds to questions during a postelection news conference in Vancouver, on Sunday, October 25, 2020. British Columbia’s opposition Liberals and Greens acknowledge the COVID-19 pandemic has presented huge challenges for Horgan’s government, but they say Monday’s throne speech must outline a coherent plan for the province’s economic, health, social and environmental future. THE CANADIAN PRESS/Darryl Dyck
Horgan’s NDP to bring in throne speech in B.C., Opposition wants coherent plan

Farnworth said the budget will include details of government investment in communities and infrastructure

FILE - An arena worker removes the net from the ice after the Vancouver Canucks and Calgary Flames NHL hockey game was postponed due to a positive COVID-19 test result, in Vancouver, British Columbia, in this Wednesday, March 31, 2021, file photo. As vaccinations ramp up past a pace of 3 million a day in the U.S, the NHL is in a tougher spot than the other three major North American professional sports leagues because seven of 31 teams are based on Canada. (Darryl Dyck/The Canadian Press via AP, File)
Vancouver Canucks scheduled to practice Sunday, resume games April 16 after COVID outbreak

Canucks outbreak delayed the team’s season by eight games

Two-year-old Ivy McLeod, seen here on April 9, 2021 with four-year-old sister Elena and mom Vanessa, was born with limb differences. The family, including husband/dad Sean McLeod, is looking for a family puppy that also has a limb difference. (Jenna Hauck/ Chilliwack Progress)
B.C. family looking for puppy with limb difference, just like 2-year-old Ivy

Ivy McLeod born as bilateral amputee, now her family wants to find ‘companion’ puppy for her

Most Read