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Canada’s Labour Market Adds 76,000 Jobs in January
BY Connect Newsroom, Feb 7, 2025 5:32 PM - REPORT AN ERROR
The unemployment rate dipped by 0.1 percentage point to 6.6%, marking the second consecutive month of decline, according to Statistics Canada.
Canada’s labour market saw a significant boost in January, adding 76,000 jobs despite ongoing tariff tensions with the United States. This increase reflects robust hiring efforts by Canadian businesses.
The unemployment rate dipped by 0.1 percentage point to 6.6%, marking the second consecutive month of decline, according to Statistics Canada. However, the number of unemployed individuals remains high at 1.5 million, indicating persistent challenges for many job seekers despite recent gains.
Experts suggest that this surge in employment is unlikely to deter the Bank of Canada from further interest rate cuts.
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