The Rideau-St. Lawrence Real Estate Board

Ontario Employment Trends

The unemployment rate in Ontario was 5.2% as of February 2023, down 0.2% from the previous month. The unemployment rate stood 7.6% below the peak from June 2020 and is below the long-run average.

There were 35,900 more full-time jobs in February 2023 compared to a month earlier. A gain of 2,300 part-time positions led to an increase of 38,200 total jobs in February.

Full-time employment has recovered since bottoming out in October 2022 and now stands at a record high.

The number of full-time jobs in February was up from the previous month in agriculture, natural resources, construction, manufacturing, trade services, professional & scientific services, business & building services, education, healthcare, accommodation & food services, and public administration.

Full-time job losses in February occurred in utilities, transportation & warehousing, the financial sector, and information & cultural services.

* All figures are seasonally adjusted, 3-month moving averages. Seasonal adjustment removes normal seasonal fluctuations.

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