OTTAWA – Labour Force results for Feburary 2025 are in and employment was virtually unchanged following three consecutive monthly increases totalling 211,000 (+1.0%) in November, December and January.
On a year-over-year basis, employment was up by 387,000 (+1.9%) in February.
“Canada’s labour market was in a holding pattern in February, with employment largely unchanged and the unemployment rate holding steady. While employment only rose by 1,100 jobs last month, this shouldn’t be a surprise, following three unexpectedly strong months of job growth, which saw 211,000 positions added from November to January during a period of significant tariff uncertainty. With all the uncertainty coming from south of the border due to constantly shifting tariffs and threats, financial markets are betting that the Bank of Canada will continue cutting interest rates next week.
Employment increased in wholesale and retail trade (+51,000; +1.7%) as well as finance, insurance, real estate, rental and leasing (+16,000; +1.1%). There were declines in professional, scientific and technical services (-33,000; -1.6%) and transportation and warehousing (-23,000; -2.1%).
Average hourly wages among employees were up 3.8% (+$1.32 to $36.14) on a year-over-year basis in February, following growth of 3.5% in January (not seasonally adjusted).
The number of employees in the private sector was little changed in February, following increases in December (+39,000; +0.3%) and January (+57,000; +0.4%). Public sector employment and self-employment were also both little changed in February.
In February, employment increased in wholesale and retail trade (+51,000; +1.7%). Employment in this industry has trended up in recent months, rising 107,000 (+3.7%) from a recent low point in July 2024 and offsetting declines in the first half of 2024. Compared with 12 months earlier, the number of people working in the industry was little changed.
More people worked in finance, insurance, real estate, rental and leasing (+16,000; +1.1%) in February, the second increase in three months. On a year-over-year basis, employment in the industry was up by 60,000 (+4.3%).
In contrast, employment fell in February in professional, scientific and technical services (-33,000; -1.6%). Employment growth in this industry has been subdued in recent months, following a strong upward trend from July 2023 to November 2024.
Employment also fell in transportation and warehousing (-23,000; -2.1%) in February, following gains of 17,000 in December and 13,000 in January. On a year-over-year basis, employment in the industry was down by 29,000 (-2.6%).
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