The numbers provide some insight into the current state of the Canadian economy
Canada's labour market took a significant step backward last month, with Statistics Canada reporting a loss of 84,000 jobs, a 0.4 per cent decline in overall employment. The unemployment rate climbed 0.2 percentage points to 6.7 per cent, while the employment rate slipped to 60.6 per cent, hovering just above the recent low of 60.5 per cent recorded in August 2025.
Youth and men at core working ages were the hardest hit, losing 47,000 and 41, 000 positions, respectively. However, employment among core-aged women and workers aged 55 and older held relatively steady and showed little change in their employment.
Wholesale and retail trade led the decline with 18,000 fewer positions, continuing a downward trend since October 2025 that has now erased 52,000 jobs in the sector. The "other services" category, which encompasses personal care, repair, and maintenance services, fell by 14,000.
On the goods side, construction and manufacturing each recorded notable losses, with manufacturing employment down a concerning 2.8 per cent year over year.
The private sector absorbed the heaviest blow, losing 73,000 employees in February, the second consecutive monthly decline, wiping out gains made in late 2025. Public sector employment and self-employment were little changed.
Provincially, Quebec experienced the sharpest decline, losing 57,000 jobs in its first significant drop since January 2022. The province's unemployment rate surged 0.7 percentage points to 5.9 per cent.
British Columbia shed 20,000 positions, though its unemployment rate held at 6.1 per cent. Saskatchewan and Manitoba also recorded losses, while Newfoundland and Labrador bucked the trend with a gain of 2,100 jobs.
Meanwhile, Ontario's employment held steady following January's sharp decline, but its unemployment rate still rose to 7.6 per cent as more residents actively searched for work.
Despite the employment headwinds, wage growth accelerated. Average hourly earnings among employees rose 3.9 per cent year over year to $37.56, up from 3.3 per cent growth in January, a positive signal for workers navigating an otherwise uncertain market.
Additionally, February marked a quiet milestone because 10 million women were employed in Canada, representing 47.3 per cent of total employment - up dramatically from 36.9 per cent when comparable data was first tracked in 1976. Among core-aged women, 80.1 per cent were employed, compared with just 48.2 per cent five decades ago.
