Highlights
- The unemployment rate fell to 5.1%.
- In May, the number of jobs grew to 39,800.
- Last month, more than 135,000 people were employed in full-time positions.
The Canadian unemployment rate has reached a new low of 5.1%, setting a new record. According to the study performed by Statistics Canada, the number of jobs climbed by 39,800 in May. The number of employed individuals in May exceeds 135,000. Women of all ages also obtained employment and began working in Canada.
Statistics Canada: Survey of Job Openings and Wages
According to the Job Vacancy and Wage Survey conducted by Statistics Canada in March, the ratio of unemployed individuals to job openings was one-to-two. This resulted in firms attracting and retaining an increasing number of workers who could relocate to Canada and work.
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Job market in Canada
Employers in Canada are having difficulty filling various roles. The number of elderly and retired people is growing. As a result, the unemployment rate is declining. This is wonderful news for job hunters, but businesses will have a difficult time finding qualified candidates for various job opportunities.
It is possible that the labour deficit may worsen. Some people do not actively participate in the labour force but wish to continue working. There are 409,000 of these folks. However, the number of jobs in Canada has risen to one million.
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2022 Immigration Level Plan for Canada
In 2022, Canada intends to welcome an increasing number of individuals. The aim for the first quarter of 2022 is 431,645 new permanent resident.
To know more also read.. Applications for Canada Express Entry will be processed in 6 months: IRCC
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