Statistics Canada reported that Canada’s unemployment rate rose slightly to 6.8% in December, even as overall employment stayed nearly flat.
Why? More people are looking for work, pushing the jobless numbers higher.
Full-time jobs grew by 50,000, but part-time roles dropped by 42,000.
Wages continue to climb. The average hourly pay hit $37.06, up 3.4% from last year.
Youth are feeling the pinch: unemployment for ages 15 - 24 jumped to 13.3%, and student joblessness hit its worst level since 2009.
Sector-wise, health care and social assistance added jobs, while professional services and hospitality saw declines. Ontario’s unemployment rate climbed to 7.9%, while Quebec gained jobs and Alberta lost ground.
What does this mean for you?
If you’re job hunting, expect more competition, especially for entry-level roles. Upskilling and networking matter more than ever. For those employed, rising wages are good news, but keep an eye on economic trends as hiring slows in some sectors.