Canada lost 33K jobs in March as unemployment ticks up slightly

Canada’s labour force showed signs of slowing in March, marking the first decline since January 2022 as employers pivot to face economic headwinds.

This includes and is not limited to tariffs and other measures brought on by U.S. President Donald Trump’s broader trade war.

Statistics Canada reported a net loss of 33,000 jobs for March, or about 0.2 per cent, and the overall unemployment rate increased by 0.1 per cent to 6.7 per cent.

The March report follows February’s reading, which was mostly unchanged, and three consecutive months of growth from November to January totalling 211,000 net new jobs, or a one per cent increase.

Full-time positions led the declines last month with 62,000 jobs lost after solid growth near the end of 2024 and a steady performance in January and February.

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The private sector saw 48,000 jobs lost in March following little change in February and a total increase of 97,000 from November to January.

Some of the losses were offset by job gains in part-time work and in other sectors like personal and repair services as well as in utilities.

Among all the job losses last month, men aged 55 and older saw a drop of 21,000 jobs, and marked the third consecutive monthly decline totaling 47,000, or 1.9 per cent.

There was also little change in the employment rate and employment level for women aged 55 and older in March. The public sector and self-employment saw little change last month compared to a year prior.