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The Canadian employment landscape is constantly changing. Keep up-to-date with the most recent trends with our monthly Employment Update.
Employment rose by 104,000 (+0.5 per cent) in December.
The number of employees in the private sector rose by 112,000 (+0.9 per cent) in December, the largest increase since February 2022. This brought the year-over-year increase in private sector employees to 325,000 (+2.6 per cent).
In contrast, the number of employees in the public sector and the number of self-employed workers were both little changed on a monthly and year-over-year basis in December.
In Ontario, employment grew by 42,000 (+0.5 per cent) in December and was up 105,000 (+1.4 per cent) on a year-over-year basis.
Adjusted unemployment rate includes those who wanted a job but did not look for one.
The number of people working in construction rose by 35,000 (+2.3 per cent) in December.
The unemployment rate declined by 0.1 per centage points to 5.0 percent in December.
The number of people employed on a full-time basis increased by 85,000 (+0.5 per cent) in December.
Full-time work also led employment growth over the course of the year ending in December 2022. On a year-over-year basis, employment was up by 394,000 (+2.0 per cent), entirely due
to gains in full-time work (+401,000; +2.5 per cent).
The proportion of workers who usually work exclusively at home (15.8 per cent) was little changed in December.
Average hourly wages of employees rose 5.1 per cent (+$1.57 to $32.06) compared with December 2021 (not seasonally adjusted).
Total hours worked were little changed on a monthly basis in December, and up 1.4 per cent compared with 12 months earlier.
The labour force participation rate increased 0.2 per centage points to 65.0 per cent.
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Acara summarizes the latest industry trends each month to keep you informed as you make decisions about the future of your business.
The churn costs—including the rehire cost, lost productivity, and more—of employees leaving a company average over $41,000 each year.
However, 16 percent of hiring managers say the cost can run as high as $100,000 or more per year.