The rate of unemployment dropped by 0.2% to 5.2% in the month of September. According to Statistics Canada’s Labour Force Survey data for October month, there are positive patterns around employment. The rate of unemployment has dealt with increases over May-September. However, it is still consistent with the same rate at 5.2% in the month of September.
According to data, a gain in employment in manufacturing, construction, accommodation, and food services was offset by a decrease in wholesale, retail trade, and natural resources. The rise in new jobs within the private sector reveals an increase in employment since March 2022.
Canadian Immigrants are successful at landing employment
The survey shows an encouraging sign of a successful employment-hunting scenario among immigrants. In addition, immigrants have filled the inflated number of job vacancies in Canada’s labour market. Presently, over 62% of immigrants aged 15 and above are employed.
Although these stay strong signs for economic performance and highlight opportunities within Canada, there are also long-term movements that are not as promising. In addition, immigrants who landed in Canada over the last 5 years had recorded an employment rate of 70.7% – which is higher than in October 2019.
Increase in full-time work
The month of October has experienced a gain in full-time work whereas it received a downfall in part-time employment. There were 119,000 full-time job positions filled, accelerating the employment rate by 3%
This employment has increased for both men and women and remained consistent mainly in the working age group 25-54 years. However, the trend was somewhat higher for men between September and October. It was 0.7% for men and 0.4% for women.
Raises for the top 25% of earners across all sectors
Wages across all sectors were above an average of 5.6% since October 2021. The survey found that six in ten employees with an employment history of at least 12 months had attained a raise in the previous year. The survey also published that 64.3% of employees with wages more than $40 an hour had attained a raise and 50% of them received a raise who have achieved below &20.
Employment is uplifted in 6 Canadian Provinces.
Employment has spiked in the provinces like Ontario, Quebec, Prince Edward Island, Newfoundland and Labrador, Saskatchewan, and Manitoba.
- Ontario had experienced the largest rise in employment with 43,000 positions filled majorly in part-time work.
- Quebec projected an increase with 28,000 positions filled majorly in full-time work.
- Prince Edward Island showed some gains in employment with 4,300 positions.
Hybrid Jobs are still active
A greater amount of the Canadian population keeps on moving to job sectors that are hybrid in nature. The study revealed that 1.7% of million Canadians are working in hybrid positions. There has been an increase in hybrid culture between January and October.
The finance, insurance, real estate, rental, and leasing sectors have recorded the largest number of hybrid jobs, about 21.7%. In addition, nearly 16% of public administration and 17.9% of professional, scientific, and technical services also capture hybrid jobs.