Canada lost more jobs in January as unemployment rates keep rising due to Omicron

Posted on February 16, 2022   |  

• Canada lost 200,100 jobs, which is the most since January 2021, and the unemployment rate grew by 6.5% from 6.0% in December.
• The economy lost 82,700 full-time jobs and 117,400 part-time positions in which the services sector lost 223,100 positions, mostly in accommodation and food services, which outweighed a gain of 22,900 jobs in the goods-producing sector.
• The job losses were bigger than expected but it is unlikely to impact the calculus of the Bank of Canada as jobs have recovered quickly in previous waves after businesses reopened.