The lowest unemployment rate in Canadian history
And the largest number of open positions.
For the third month, Canada's unemployment rate is breaking records, falling by a tenth of a percent. In May, it reached 5.1 percent. That's really low: In 2020, the unemployment rate was 9.5 percent. If you compare it to other countries around the world, even with 9.5% unemployment, Canada was 51st.
Total employment increased by 40,000, while the number of people working full-time increased by 135,000, that is, people moved from part-time to full-time. Most of the jobs were held by women. The number of women 25 to 54 years old in full-time employment increased by 63,000 over the month.
People are earning more, although wages are not catching up with inflation. The average hourly wage in May increased 3.9 percent from last May and is now $31.12 CAD. The difference between April's 2022 and 2021 average wage was 3.3%.
In the first quarter of 2022, the number of vacancies reached 957,500, the highest quarterly figure in the history of observation. At the same time, there are 409,000 potential workers in Canada — people who want to work, but for some reason are not employed.
The results of an online survey on the job portal Indeed showed that 77% of Canadian employers agree to hire people without experience and special education. The main thing is that applicants should be active, sociable, attentive and willing to learn.
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