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There’s been a fractional drop in Canada’s unemployment rate, according to new data.
Statistics Canada said this morning that the rate fell 0.1 percentage points in January compared with December – from 5.8 to 5.7 per cent.
That’s the first decline in the rate since December 2022.
In British Columbia, the rate fell from 5.5 to 5.4 per cent.
Photo credit: Statistics Canada
In the Kelowna area, however, the rate increased from 5.2 to 5.6 per cent.
It also increased in Victoria (from 4.2 to 4.5 per cent), though a small decline was logged in Vancouver (from 5.9 to 5.8 per cent).
StatCan said the national economy added 37,000 jobs in January.
Photo credit: Statistics Canada
Gains were seen in retail, finance, real estate and insurance.
But accommodation and food services saw a large decline, losing more than 30,000 jobs.
Average hourly wages, meanwhile, were up nationally by 5.3 per cent.
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