The number of Canadians receiving Employment Insurance (EI) benefits in January rose 18% from a year earlier, Statistics Canada reports. The figures are up 0.3% from pre-pandemic levels for the fourth month, reaching 468,300. The group of primary EI recipients, those aged 25-54, increased 19.6%.

StatCan data show that the labour market has entered a period of stagnation, and while the number of jobs increased slightly last month, mainly in the public sector, it has not kept pace with the rapid influx of people.

The unemployment rate has risen to 5.8%, wage growth has stalled, and the number of job openings has fallen for the sixth quarter in a row.

 Yuri B