The most recent employment statistics from Stats Canada showed overall growth in December 2024, with most industry sectors and provinces experiencing job growth.
Employment Growth Overall
Canada saw an increase of 91,000 jobs in December 2024, marking a rise in full-time employment that boosted the overall employment rate to 60.8%.
Source: Stats Canada
Employment Growth by Sector
The biggest gains were seen in educational services, which increased by 1.1%, and transportation and warehousing, with a notable 1.6% increase in this sector.
Finance, insurance, real estate, rental and leasing saw a 1.1% increase; the accommodation and food services and construction sectors also saw growth.
Source: Stats Canada
Regional Breakdown
Canada’s provinces showed varying patterns in job growth and unemployment.
Alberta
The province recorded a 1.4% employment increase in December and an impressive 4.0% year-over-year growth. Despite unemployment still sitting at 6.7%, Alberta’s employment figures point to a potentially growing labour market.
Ontario
Employment growth was more modest in Ontario, with a 0.3% monthly increase, resulting in 2.6% annual growth. Despite the modest growth in job numbers, the unemployment rate remained steady at 7.5%.
British Columbia
The province saw a 0.5% employment increase in December; however, the unemployment rate also rose to 6.0%.
Other Provincial Employment Growth
Nova Scotia and Saskatchewan showed positive trends in employment, with 1.4% and 0.7% increases, respectively.
Wage Growth
Average hourly wages rose by 3.8% year-over-year in December 2024, reaching $35.77. While this shows an increase, it also reflects a deceleration compared to increases (not seasonally adjusted) of 4.1% in November and 4.9% in October. The December wage growth was the slowest since May 2022, after a peak of 5.8% in November 2022. Growth remained around 5% throughout 2023 and into the first 10 months of 2024.
Impact of Export-Driven Employment
Employment in industries dependent on U.S. demand accounted for 8.8% of total employment in Canada in 2024, totalling about 1.8 million jobs.
Industries with the highest proportion of employment dependent on US demand included:
- Oil and gas extraction (74.3%)
- Pipeline transportation (71.7%)
- Primary metal manufacturing (60.8%)
- Transportation equipment manufacturing (56.0%).
Wages in US-demand-linked sectors were above average, with workers earning $37.24 per hour.
The Stats Canada employment data for December 2024 showed notable trends. Alberta led in employment growth, but other provinces showed positive signs as well. Wage growth may have slowed, but did continue. The specific industries showing growth can also be of interest. Overall, Canada’s employment landscape reflects a diverse array of sectoral and regional growth, but with some potential for optimism.
