There’s been a fractional drop in Canada’s unemployment rate, according to new data.
Statistics Canada said this morning that the rate fell 0.1 percentage points in January compared with December – from 5.8 to 5.7 per cent.
That’s the first decline in the rate since December 2022.
In British Columbia, the rate fell from 5.5 to 5.4 per cent.
In the Kelowna area, however, the rate increased from 5.2 to 5.6 per cent.
It also increased in Victoria (from 4.2 to 4.5 per cent), though a small decline was logged in Vancouver (from 5.9 to 5.8 per cent).
StatCan said the national economy added 37,000 jobs in January.
Gains were seen in retail, finance, real estate and insurance.
But accommodation and food services saw a large decline, losing more than 30,000 jobs.
Average hourly wages, meanwhile, were up nationally by 5.3 per cent.
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