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Construction sector continues to add jobs

Canadian employment figures rise in February, reaching pre-pandemic levels.

March 16, 2022   Adam Freill
Construction
Labour

(Source: Statistics Canada, Labour Force Survey (3701), table 14-10-0355-01.)

Employment in Canada climbed 337,000 in February, a gain of 1.8 per cent that more than offset losses felt following stricter public health measures in January. The unemployment rate dropped a full percentage point, to 5.5 per cent, a rate not seen in almost three years.

Other indicators point to an increasingly tight labour market in February. Total hours worked increased 3.6 per cent while the proportion of the population aged 15 and older who were employed, rose to almost 62 per cent, marking its first return to pre-pandemic levels.

The employment rate for the core working-age population (aged 25 to 54 years) climbed to 84.6 per cent in February, with the employment rate of core-aged men increasing to 88.2 per cent, the highest level since November 1981. Among core-aged women, whose employment rate has been increasing over several decades, the employment rate reached a new record high of 81 per cent.

Employment in the goods-producing sector rose 44,000 in February, marking the third consecutive monthly increase. The construction industry accounted for the majority of the increase, with employment up by 37,000.

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Employment in the industry has increased by 95,000 workers in the last three months, following an acceleration in economic activity in the industry, as the value of building permits reached an all-time high during the fourth quarter of 2021.

 

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