The employment rates in Quebec have shown significant growth. With a record-breaking unemployment rate of 4.5%, more than 66,000 people got employed in February itself.
Canada calculates its employment rates as a percentage of the entire country’s population to the number of citizens who have employment and are above the age of 15. In contrast, the unemployment rate is the summation of the number of not only employed but also unemployed to the number of unemployed. The majority of the jobs from this year’s percentile went to the people from age groups of 15-24, and the percentage of their unemployment fell to 6.8.
With meager unemployment rates, Canada is an attraction hub for job-seeking immigrants as more and more employers will try to employ and retain talent. Additionally, due to a small number of young citizens – and to meet the ongoing and upcoming labor shortages – Canada will have to hire more immigrant workers, or else there will be a shortage.
Apart from Quebec, provinces like Nova Scotia, Alberta, and Manitoba also had an increase in their job opportunities. With a 7.2 unemployment rate, Alberta employed around 11000 workers last month, and 3,700 people got their jobs in Nova Scotia, and the unemployment rate made a shift to 7.8 percent.
In Manitoba, more than 3200 people got employed in the past month, but there was no change in the unemployment rate. Other provinces joining this list include New Brunswick, British Columbia, Ontario, Prince Edward Island, Newfoundland, Labrador, and Saskatchewan.
The Short-term Outlook isn’t that great though
Global issues of economic uncertainty might result in hampering the labor recruitment and result in low employment numbers in upcoming years. With the worldwide outbreak of coronavirus and the crashing of oil prices, Canada’s economy might face a significant negative impact. Oil-rich provinces, mostly Alberta, will suffer substantial economic implications due to this.