The number of unemployed climbed by 7,800 to 46,600, while employment advanced by 12,800 to 693,400.

Meanwhile, the labor force participation rate rose to 73.7% in Q4 of 2023 from 73.5% in the same period a year earlier, while employment was 69.1%, edging down from 69.6%.

In 2023, the unemployment rate was 6.4%, compared to 5.6% in 2022.