Employment is growing, but jobs are empty
The labour market situation in Canada remains almost unchanged.
For the fifth month in a row, Canada's unemployment rate has fallen. However, while employment is rising in some sectors, it is falling in others and slowing the country's economic recovery.
Canada's unemployment rate was 6.7% in October. This is the lowest rate in 20 months, but still higher than before the pandemic, when unemployment was holding steady at 5.7%. At first glance, the economy appears to be heading in the right direction, but a number of experts believe it is being hampered by labour shortages.
Nathan Janzen, senior economist at RBC Bank, said there are not enough unemployed to fill vacancies in the hotel and restaurant business. But jobs in science and technical occupations are filling up rapidly. Also, after a long period of lockdowns, fewer employees have returned to the retail sector.
Leah North, senior director of the Canadian Chamber of Commerce, also says companies will struggle to fill jobs. Nord says Canada needs a well-thought-out plan for dealing with labour shortages. For example, the province of Quebec is planning to ease the employment of foreigners with certain professions for that purpose.
The number of immigrants arriving in Canada has also been on the rise in recent months. In September, 45,000 new permanent residents arrived in Canada. The labour market situation is creating a favourable job search situation for them, and this is reflected in the statistics: the employment rate among recent immigrants, who have been in the country for less than 5 years, was 71% in October. That's 10% higher than the employment rate of native Canadians.
The indicators suggest that Canada is still a good time to look for a job, even if you are overseas. Start with resume written by our experts to all Canadian standards. After working in Canada for just one year, you will be able to apply for one of the immigration programs for candidates with Canadian work experience.