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Quebec’s unemployment rate plummets to record low at 4.5%


Quebec’s unemployment rate witnessed a record low in February at 4.5 percent, which is the lowest rate ever recorded, according to the Canada Jobs Labour Market Survey. February is the third consecutive month where Quebec is recording a rise in the number of new jobs, adding a total of 20000 new jobs in the month. Overall, the total number of new jobs added all over Canada was 30300 and the national unemployment rate has marked a slight increase of 0.1 percent.
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The total annual gain of Quebec is 66000 jobs. At the same time, a total of 245,000 new jobs were added all over Canada in the past 12 months. Among the young people in the age group of 15-24, employment increased by 22000. The unemployment rate among this demographic section was 10.3 percent.
For the 25-54 years age group, the employment rate remained steady. The number of new jobs for this age group has grown by 72000 in the past one year. The unemployment rate in this demographic section was 4.7 percent.
But among those above the age of 55, unemployment rate increased to 5.1 percent in February and employment remained steady for the third consecutive month.

Unemployment rate in provinces

In February, the lowest unemployment rate in Canada was recorded by Quebec. Alberta, Nova Scotia and Manitoba also marked an increase in job rates. While Alberta added 11400 new jobs, the unemployment rate in the province was 7.2 percent. Most of this job increase can be attributed to young people in the age group of 15 to 24. In Nova Scotia, the number of new jobs added in February was 3700 and unemployment rate was 7.8 percent. Manitoba, with an unemployment rate of 5 percent, added 3200 jobs.

Increase in jobs in Canada(Industry wise)

Among the various industry sectors, the highest number of new jobs was added in the wholesale and retail trade sector. A total of 23000 new jobs were added in this sector in February and the total number of jobs added in the whole year was 57000. Manufacturing sector added 16000 new jobs in February, mainly in Ontario. The number of jobs in the information, culture and recreation sector grew by 14000 in February. Employment rates remained steady in the private, public and self-employed sectors.
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