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StatC can reveal how the labor market performed in February

OTTAWA –

Statistics Canada is expected to tell this morning how the job market grew in February after the market struggled at the start of the year.

The Canadian economy lost 200,000 jobs in January as Omicron-related restrictions forced businesses to close and repatriate workers.

The unemployment rate also increased by half a percentage point to 6.5%, marking the first rate increase in nine months.

RBC economists Nathan Janzen and Rannella Billy-Ochieng expect to see three-quarters of January’s losses recovered in February when restrictions are eased.

They point to early data showing a rapid recovery in spending in high-exposure service sectors that suffered in the wake of the January attack.

The more pressing issue for many businesses, they say, is that labor shortages could mean wage increases as demand for workers grows.


This Canadian Press report was first published on March 11, 2022.

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