Layoffs, boomers, interest rates: Why Canada’s jobs market shows ‘no signs of slowing’
February 15, 2023
Advocacy

Canada’s economy has seen a constant stream of layoffs hitting companies from the tech sector and beyond in recent months while many employers lament a shortage of workers, but neither seem to be weighing heavily on the country’s jobs numbers.

Statistics Canada’s latest labour force survey said Friday that January’s unemployment rate held steady at five per cent — just above the record low of 4.9 per cent reached in the summer — as the country added a whopping 150,000 jobs.

Some 326,000 jobs have been added since September alone, bucking forecasts predicting the higher cost of borrowing would slow the economy down significantly this year and create employment level upheaval.

Click here to learn more.