Ottawa: Canada’s labor market showed a modest recovery in March, with Statistics Canada reporting the addition of approximately 14,000 new jobs. This figure aligns with the projections of economic experts. Despite the increase in employment, the national unemployment rate remained steady at 6.7%. The report indicated little significant change across age groups, full-time versus part-time positions, or the private and public sectors.
The growth was primarily driven by the services sector, particularly in repair and maintenance. Other sectors that recorded gains include professional, scientific, and technical services, as well as the natural resources and construction industries.
Conversely, the finance, insurance, and real estate sectors saw a decline of 11,000 positions last month, marking the first major drop in these areas since November 2023. British Columbia faced a particularly tough month, losing 19,000 jobs and pushing its provincial unemployment rate to 6.7%. This represents the highest jobless rate for the province in the decade following the COVID-19 pandemic. On a positive note, average hourly wages across the country saw a year-over-year increase of 4.7%.
Following rapid job growth in the final four months of last year, the market had faltered in early 2026, with over 100,000 jobs lost in January and February. March’s slight gains offer a measure of stability to a volatile market. Compared to the same period last year, total employment in Canada has increased by 87,000. These figures are considered crucial as they represent the final labor market update before the Bank of Canada makes its next interest rate decision on April 29.
