New Brunswick Real Estate Association

New Brunswick Employment Trends

The unemployment rate in New Brunswick was 7.2% as of February 2023, down 0.3% from the previous month. The unemployment rate stood 5.7% below the peak from June 2020 and is below the long-run average.

There were 500 more full-time jobs in February 2023 compared to a month earlier. A gain of 1,900 part-time positions led to an increase of 2,400 total jobs in February.

Full-time employment was still down 5,300 jobs from the peak in September 2022 but stood 500 jobs above the trough in January 2023.

The number of full-time jobs in February was up from the previous month in natural resources, utilities, construction, manufacturing, transportation & warehousing, the financial sector, professional & scientific services, accommodation & food services, and public administration.

Full-time job losses in February occurred in agriculture, trade services, business & building services, education, healthcare, and information & cultural services.

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

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