Canada's Unemployment Rate Hits Record Low

Friday, 8 April 2022 at 10:49

By Linda Morgan

Statistics Canada says the country's unemployment rate fell to 5.3 percent in March, which is the lowest rate on record since 1976.

Statistics Canada says in March, the unemployment rate dropped to the lowest rate on record.

The agency says the unemployment rate fell to 5.3 percent in March, which is down from 5.5 percent in February.

This is the lowest rate since 1976, when data first became available.

The economy added 72,500 jobs last month, with women over age 55 and men between 25 and 54 experiencing significant gains.

Statistics Canada says the unemployment rate for March would be at 7.2 percent if it included people who wanted a job but didn't look for one.

In Ontario, about 35,000 jobs were added, with an unemployment rate of 5.3 percent reported in March, which is a drop of 0.2 points from February.

In Niagara, the unemployment rate dropped from 6.3 percent last month to 6.2 percent.

Share