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Canadian job number slips in March as self-employment declines

April 05, 2024

Canadian employment fell by 2,200 jobs in March, Statistics Canada reported today. The country lost 1,600 part-time jobs and 700 full-time jobs. Total employment in Canada stood at 20.4 million.

The decline was in self-employment, where the number of jobs fell by 29,300. That more than offset the gains of 11,900 jobs in the public sector and 15,200 in the private sector.

Canada’s unemployment rate rose to 6.1% in March from 5.8% in February. The monthly rate was driven by an increase of 60,000 people searching for work or on temporary layoffs.

Analysts polled by Reuters had forecast a net gain of 25,000 jobs and the unemployment rate to rise to 5.9%.

However, employment increased in four industries, led by healthcare and social assistance, which added 39,900 jobs in March, followed by construction, with15,300 jobs and “finance, insurance, real estate, rental and leasing,” which increased by 11,000. Industries with declines included accommodation and food services, down 26,600 jobs; wholesale and retail trade, down 23,100 jobs; and “professional, scientific and technical services,” down 19,900 jobs.

Employment fell across several provinces, although Ontario added 26,100 jobs in March, marking the second increase in three months. Ontario’s gains were in part-time employment; full-time jobs fell by 1,400. Meanwhile, employment in Quebec, Canada’s second-most populous province, fell by 18,000 after five consecutive months of little change.