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February 2023 Overview
The Canadian employment landscape is constantly changing. Keep up-to-date with the most recent trends with our monthly Employment Landscape Overview. Figures and statistics sourced from Statistics Canada.
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Employment at 20,054,000 in February
Employment rose by 22,000 (+0.1 per cent) in February. The number of employees grew in the private sector (+39,000; +0.3 per cent), while there was little change in public sector employment and in the number of self-employed.
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Employment in Prince Edward Island increased
Employment grew by 2.0 per cent (+1,700) in Prince Edward Island in February, the second increase in three months.
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Employment in Newfoundland and Labrador increased
In February, Newfoundland and Labrador recorded a second employment increase in three months (+3,800; +1.6 per cent).
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Health care & social assistance employment grows
The number of people employed in health care and social assistance grew by 15,000 (+0.6 per cent) in February, building on a gain of 40,000 (+1.5 per cent) recorded in January.
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Unemployment rate held steady
The unemployment rate held steady at 5.0 per cent in February, just shy of the record-low 4.9 per cent observed in June and July 2022.
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Employment rose among workers aged 55 to 64
Employment among those aged 55 to 64 rose by 25,000 (+0.7 per cent) in February, continuing a strong upward trend since August 2022.
Employment was virtually unchanged among core-aged adults (25 to 54 years old) in February. The employment rate for women in this age group edged down 0.2 per centage points to 82.0 per cent in February but remained near the record high of 82.2 per cent reached in January.
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Employment rate up for women aged 15 and older
Employment rose for women in the last six months, with 58.9 per cent of women aged 15 and older employed, up from 58.1 per cent in August 2022.
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Total hours worked up from 2022
Total hours worked rose 0.6 per cent in February and were up 1.4 per cent compared with 12 months earlier.
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Labour force participation held steady
The labour force participation rate held steady at 65.7 per cent in February and was up 0.5 per centage points compared with September 2022.
Industry Trends
Broadleaf summarizes the latest industry trends each month to keep you informed as you make decisions about the future of your business.
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51% of employers are planning to hire for new permanent roles in the first half of 2023.
62% of managers in administration and customer service have the greatest full-time staffing needs.
90% of companies are finding it challenging to find skilled professionals.
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50% of workers plan to look for a new job in 2023.
Workers that are most likely to make a career move…
• Those that have been with a company for two to four years
• Gen Z and Millennials
• Tech workers
• Working parents