March 12, 2021, by Shelly Hagan

Canada’s labor market roared back to life in February after authorities began lifting lockdowns, a striking sign of the nation’s economic resilience to the second wave of the pandemic.

According to a Statistics Canada report, the economy added 259,200 jobs in February, well ahead of expectations for a 75,000 gain. It’s the first month of gains since November. The unemployment rate fell to 8.2%, the lowest since the beginning of the pandemic, from 9.4% in January.

“The big February jobs bounce is a pleasant surprise, reinforcing the broader theme that the Canadian economy fared better than widely expected in a challenging winter,” Doug Porter, chief economist at Bank of Montreal, said in a report to investors.

While lauding February’s strong job gains, Justin Trudeau — whose government is preparing a budget that will include as much as C$100 billion ($80 billion) in new spending over three years — said, “there are still far too many people for whom things continue to be tough.” The prime minister added: “If that’s you, know that you’re not alone in this crisis. We’re here to help get through it and get back on your feet.”

Blowout Jobs Report Signals Economic Resilience in Canada

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