Canada regained more than half of the jobs lost to the pandemic
Canada's economy is on the upswing for the third month in a row.
Canada is experiencing a rebound in the economy as quarantine restrictions are eased across the country.
About 55% of the 3 million jobs lost since April had been restored as of July, according to a new study.
Some 419,000 new jobs were created in Canada in July, up 2.4% from the previous month. The rate of growth was slower compared to June's growth rate of 5.8%. A recent Statistics Canada employment survey showed that the economic downturn caused by the coronavirus is experiencing a sharp reversal after a steep drop.
Most jobs were created on a part-time basis. In July, 345,000 part-time positions were filled, compared to 73,000 full-time positions.
Unemployment fell to 10.9%, but there are still 2.2 million unemployed in Canada. The unemployment rate for people aged 15 to 69 was 11.3%.
Certain minority groups had significantly higher unemployment rates, such as South Asian Canadians (17.8 per cent), Arabs (17.3 per cent), and blacks (16.8 per cent). According to Statistics Canada, the higher unemployment rate among visible minorities can be attributed to their higher concentration in hard-to-reach industries such as catering and retail trade.
Among immigrants who have arrived in Canada over the past five years, employment increased by 2.1% for the third consecutive month. Statistics Canada attributes the trend to fewer new immigrants coming to Canada in recent months.
