November Employment Grows by 10,000 Jobs Across Canada
The recent Labor Force Survey by Statistics Canada presents a review of General employment trends in Canada besides gender-specific employment results.
The latest employment figures are the outcome of Canada’s Immigration Levels Plan (2023-2025). The major highlight of the recent immigration includes the highest number of women immigrants marking a record employment rate of 69 percent over the last five years. The employment rate of core working-aged women touched the 16 years highest in Canada.
November 2022 witnessed a growth of 84.7 percent in November 2022, representing year-on-year growth of 0.8 percent, including 87.8 percent employment growth of core working-aged men.
Canada’s general employment trends
There was a fall in the national unemployment rate by 0.1 percent, bringing it down to 5.1 percent, with the employment participation rate falling to 64.8 percent. The average hourly wages stayed above 5 percent up to $32.11 for the sixth month, suggesting more opportunities for newcomers. The earning potential of newcomers is also steadily rising.
Provincial employment trends
The employment outcomes varied across provinces and territories, boosting employment in Quebec with a minor drop in employment across five other Canadian provinces.
Quebec contributed employment gains with growth in employment in Montreal by 1.1 percent. The overall employment rose to 28,000 jobs, as unemployment touched a new low of 3.8 percent.
Prince Edward Island reported a jump in unemployment to 6.8 percent as employment dropped to 1.7 percent.
There was a decline in total employment by 1.5 percent in Newfoundland and Labrador, as the unemployment rates stayed constant at 10.7 percent.
The employment rate of Manitoba declined by 0.8 percent, though the unemployment rate remained steady at 4.4 percent.
Alberta reported a drop in employment with a rise of 5.8 percent in the unemployment rate.
British Columbia suffered employment losses in the part-time employment sector as employment dropped by 0.5 percent.
Ontario’s unemployment rate stands at 5.5 percent, with a 0.4 percent decline in November 2022.
Industry-specific employment trends
The following industries reported gains in employment across Canada:
Information Culture and Recreation (ICR)
Finance
Insurance
Rental and leasing
Real estate
Manufacturing
The retail trade industry was a source of employment for 11.2 percent of employed Canadians. Rental and leasing, insurance, and finance sectors had 21,000 Canadians with employment
Alberta and Quebec reported noteworthy gains in employment across manufacturing industries.
The way forward
The Provincial Nominee Program will continue to gain significance in Canada’s immigration policy. Canada will focus more on immigration through Provincial Nomination than Express Entry in the coming years. It shows Canada’s resolve to close specific labor market gaps across provinces and regions that leverage Provincial Nominee Programs to attract new immigrants.
The Express Entry system will be more industry-specific, focusing on foreign nationals having experience in specific occupations. The recent switch to Training Education, Experience, and Responsibilities (TEER) highlights Canada’s focus on education and language abilities for selecting new immigrants. Skills and employability will b the driving factors of Canada’s immigration as the country plans to help provinces manage labor market gaps in industries with the highest labor requirement.
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