Toronto’s unemployment rate was on par with the national rate in February. The city checking in at 7.2%, up .1% from January, which is comparable to the national rate of 7.3%
Employment was virtually unchanged in February, the country lost 2,300 jobs overall, gains in part-time work were offset by losses in full time. The unemployment rate rose by 0.1 percentage points for the third consecutive month, reaching 7.3% for the first time since March 2013.
On a year-over-year basis, employment grew by 0.7%, with the gains mostly coming from full-time work. At the same time, the number of hours worked increased by one per cent.
Following two monthly increases, employment in Ontario was little changed in February and the unemployment rate was 6.8%. On a year-over-year basis, employment in the province advanced by 74,000, the second highest rate of growth among the provinces. The gains were mostly in full-time work.
Adjusted to U.S. concepts, the unemployment rate in Canada was 6.2% in February versus 4.9% in the United States. Compared with February 2015, the unemployment rate increased by 0.2 percentage points in Canada, while it declined by 0.6 percentage points in the United States.
The labour force participation rate in Canada (adjusted to U.S. concepts) was 65.7% in February, compared with 62.9% in the United States.
In February, the US-adjusted employment rate in Canada stood at 61.7%, compared with 59.8% in the United States. Compared with 12 months earlier, the employment rate in Canada declined by 0.3 percentage points, while in the United States, it increased by 0.5 percentage points.