Payrolls, labour demand flat in January: StatCan

Payroll employment growth slowed in January, according to new data from Statistics Canada.

The national statistical agency reported that payrolls rose by just 0.1% to start the year, down from 0.4% growth in the previous month. Over the past 12 months, payrolls were up 1.1%, an increase of almost 200,0000 workers.

The monthly rise in payrolls was led by the education sector, followed by the retail and healthcare sectors. Overall, payrolls grew in six of 20 sectors, StatCan reported, which was partly offset by declines in three sectors (construction, accommodation and food services, and cultural industries). 

Alongside the modest rise in payrolls, job vacancies were little changed in January, StatCan said — although, on a year-over-year basis, vacancies were down 20.6% in the month, it noted.

As a result, total labour demand — which represents the combination of both filled and unfilled jobs — was essentially flat in January.

StatCan also noted that there were 2.8 unemployed workers for every open job in January, which was unchanged from December, but was up from 1.9 in January 2024.

Over the past year, the number of jobless workers is up 20.2% and the number of open jobs has dropped 20.5%, it said.

Average weekly earnings were up 5.5% on a year-over-year basis in January — slower than the 5.9% rate recorded in December.

James Langton

James is a senior reporter for Advisor.ca and its sister publication, Investment Executive. He has been reporting on regulation, securities law, industry news and more since 1994.