Canada employment dropped -200k in Jan, unemployment rate jumped to 6.5%

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Canada employment dropped -200k in Jan, unemployment rate jumped to 6.5%

Canada employment dropped -200k in January much worse than expectation of -121k. Part-time jobs dropped -117k while full-time jobs dropped -83k. Unemployment rate rose by 0.5% to 6.5%, higher than expectation of 6.0%. That’s the first increase since April 2021. Labor force participation rate dropped -0.4% to 65.0%. Full release here.

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Source: Canada employment dropped -200k in Jan, unemployment rate jumped to 6.5%