In December, Canada’s employment landscape experienced a minimal shift, with the total job count seeing virtually no change. According to Statistics Canada, the unemployment rate remained stable at 5.8%.
The overall job additions for the month totaled 100, indicating a near equilibrium. However, this figure masked the flux within employment types. While full-time jobs experienced a decline of 23,500 positions, there was a corresponding increase of 23,600 part-time positions during the same period.
Certain sectors demonstrated noteworthy shifts. Professions within the professional, scientific, and technical services field saw a substantial rise, with a notable increase of 45,700 jobs. Additionally, the health care and social assistance sector experienced growth, witnessing a boost of 15,500 jobs.
Conversely, the wholesale and retail trade sector faced a decline, losing 20,600 jobs in December.
The broader trend throughout 2023 revealed a deceleration in employment expansion in the latter half of the year. The average monthly employment growth dipped to 23,000, a significant slowdown compared to the robust 48,000 per month seen in the initial six months of the year.