Canadian Employment Increased and Unemployment Declined in December

Statistics Canada (StatsCan) reported on Friday (1-6-23) that employment in Canada rose by 104,000, or 0.5%, in December. Employment had previously peaked in May 2022, followed by a downward trend that lasted through August. As a result of cumulative gains since then, employment in December was 130,000, or 0.7%, above its May level.

In December, the unemployment rate declined 0.1% to 5.0%. This marks the third decline in the past four months and leaves the unemployment rate just above the record low of 4.9% that was set in June and July of 2022. The unadjusted unemployment rate—which includes people who wanted a job but did not actively look for one—fell 0.2% to 6.8% in December.

Employment increased in Alberta, British Columbia, Labrador, Manitoba, Newfoundland, Ontario, and Saskatchewan in December. There was little change reported in the other provinces.