Jeffrey Qián 錢 曄 // 778-238-2014 // info@jeffreyqian.com

Canadian Employment (March) - April 9, 2021

Canadian employment gained 303K jobs in March (1.6%, m/m), bringing total employment to within 1.5% or 296K jobs of its pre-pandemic level from February 2020. Both part-time employment with full-time employment contributed to the gains in March, rising by 128K and 175K jobs respectively.  The national unemployment rate decreased by 0.7 percentage points to 7.5%, which is the lowest rate since February 2020. 

In BC, employment grew by 35k (+1.3%, m/m) in March. The unemployment rate decreased from held steady at 6.9%, which is the lowest rate the province has recorded since February 2020. Meanwhile, in Vancouver, employment increased by 32.3k (+2.2%,m/m), following a rise of 13.9k in the previous month. Compared to one year ago, employment in BC was up 8.4% (+116.7K) jobs. 

Employment in BC and other parts of Canada may slow in April as more restrictive "circuit-breaker" polices are implemented to mitigate rising COVID-19 cases. Fortunately, daily vaccinations have ramped-up considerably and the labour market should be in a much better place by early summer.




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