Statistics Canada is set to release its January labour force survey this morning. A man walks though a downtown Toronto office building with other buildings reflected in a window in this June 11, 2019 photo.THE CANADIAN PRESS/Graeme Roy
OTTAWA – Statistics Canada says the economy added a whopping 150,000 jobs in January.
With 153,000 people joining the labour force last month, the unemployment rate held steady at five per cent, hovering just above the record low of 4.9 per cent.
Job gains were made across sectors, with wholesale and retail trade experiencing the largest gains to employment.
Meanwhile, wages were up 4.5 per cent on a year-over-year basis.
The Canadian economy has been on an upward trend with employment since September, adding a total of 326,000 jobs.
That’s despite forecasters anticipating higher interest rates will slow the economy down significantly this year and weigh on employment.
This report by The Canadian Press was first published Feb. 10, 2023.
