Jobless benefit claims rise in February: StatsCan

The number of people receiving unemployment benefits rose in February but remains historically low, indicating ongoing tightness in labour markets.

Statistics Canada reported that the number of employment insurance beneficiaries rose by about 11,000 in the month, an increase of 3.0% from January and the first monthly increase since July 2022.

Despite the monthly increase, StatsCan noted that the number of EI recipients remains down by 33% from a year earlier and was at a record low level in January.

The unemployment rate remained steady in February at 5.0%, StatsCan said, which is also just off the record low of 4.9% in July 2022.

Ontario led the increase in EI recipients, with 15,000 new claimants added in February, although some of the increase was offset by declines in five other provinces.

StatsCan noted that the overall level of EI usage in Ontario was also lower on a year-over-year basis, down 29.6% from February 2022.

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