Statistics Canada reported Wednesday that the annual pace of inflation climbed in December to 4.8 per cent, a pace that hasn't been seen since September 1991.
Continuing a troubling recent trend, the overall number of employed residents in Ottawa-Gatineau fell to 753,300 last month, a slight drop from November.
National Capital Region continued a recent slide that’s seen it lose nearly 30,000 jobs since July, but the unemployment rate still fell to 4.4 per cent thanks to a shrinking labour force.
That’s the lowest the rate has been since the dawn of the pandemic in March 2020, but it's mainly the result of a shrinking labour force, Statistics Canada says.
The economy shed more than 10,000 jobs last month, with the retail and educational services sectors among the hardest hit.
Employers in Ottawa-Gatineau shed a net total of 3,300 jobs in August, and the unemployment rate dropped mainly because of a mass exodus of 12,100 people from the labour force.
Ottawa-Gatineau employers added more than 6,000 new jobs to their payrolls last month as the economy continued to pull out of a pandemic-fuelled downturn.
Ottawa’s economy added jobs for the eighth straight month, but the gains were accompanied by a surge in the number of residents entering or re-entering the labour force.
The size of the region’s labour force – which includes people who are actively looking for work – increased by 9,500 to an all-time high of 832,000 last month.
While the region's economy added 7,600 jobs, the labour force also jumped by an additional 10,200 as more people resumed their search for work, Statistics Canada says.