Construction sheds 6,600 jobs
By Adam Freill
Construction LabourThe national employment picture gained 37,000 jobs in January, but weakness hit the construction segment, reports Statistics Canada.
Employment changes by industry in January of 2024. (Source: Statistics Canada, Labour Force Survey (3701), table 14-10-0355-01.)
Canadian employment increased by 37,000 workers in January, following three months of little change, but Statistics Canada’s latest Labour Force Survey indicates that construction was on the decline to start the year.
Overall, the employment rate fell 0.1 percentage points to 61.6 per cent, as population growth of 0.4 per cent outpaced the 0.2 per cent of employment growth. That said, the unemployment rate fell 0.1 percentage points to get back down to 5.7 per cent, the first decline since December of 2022.
Canada’s employment participation rate fell 0.2 percentage points to 65.3 per cent in January, as the number of people in the labour force held steady and the population aged 15 and older rose.
In January, Canada’s construction sector dropped roughly 6,600 jobs from December, and had 27,200 fewer workers than the same month one year earlier, a 1.7 per cent reduction in its workforce.
