Low unemployment rate and high job vacancies define Canada’s current labor market survey, showing nothing but prosperity for newcomers. As the country’s economy bounces back after the Covid-19 pandemic, Canada continues on the path of economic growth and development. According to the latest Labor Force Survey, the employment rate grew by 64,000 in September 2023, an increase of 40,000 in August 2023.
The employment rate among individuals aged 15 and above remained steady at 5.5% in September 2023. Similarly, the employment rate was consistent throughout the year, at 62% in September. The report shows an impressive growth in employment among people aged between 25 and 54 years. While employment for those 15-25 and older than 54 saw only a slight increase.
The report findings highlighted that skilled workers in Canada have filled many job vacancies quickly despite tight labor market conditions. The sudden increase in the Canadian population has also played a pivotal role in helping employers find suitable candidates for vacant positions.
Canada's labor force also grew by 381,000 individuals since the beginning of 2023. Canada's population growth is attributed to newcomers and people who entered the country to find work. 2023 has been a historic year to address labor shortages in Canadian provinces and for many vital sectors struggling to find qualified workers.
Key industries with the most notable changes in the employment rate
September 2023 remained a positive month for many Canadian industries as several employment opportunities spurred across Canada. Educational services also produced 66,000 job positions in September 2023, compensating for the decline of 44,000 jobs in August 2023. Notably, 19,000 jobs also grew in the transportation and warehousing sector.
Besides education and transportation, the following industries experienced a slight decline in the month of September:
Besides, employment rate in health care and social assistance saw a major rise of 2.5% or 66,000. A recent data from the Job Vacancy and Wage Survey reveals that unfilled positions remain high in the health care and social assistance sectors.
Category based draws and their targeted sectors
The federal government of Canada is leaving no stone unturned in tackling the labor crisis in crucial sectors. To do this, Immigration, Refugees and Citizenship Canada announced category-based immigration draws to the Express Entry system. These draws have been introduced to invite skilled workers with work experience in sectors considered crucial to Canada.
IRCC stated those who fall under the following six categories would have higher chances of receiving an ITA:
Canadian provinces with the highest increase in employment
The French province of Canada, Quebec saw the most notable rise of 39,000 new job positions. The unemployment rate remained steady from August 2023 at 4.4%.
British Columbia has experienced an impressive rise in employment by 26,000, marking its second consecutive monthly gain. The province’s current unemployment rate stands at 5.4%. On the other hand, Ontario added 19,900 new job positions in the same month.
Positive employment changes were also noticed in the following Canadian provinces:
To sum up, Canada continues to show positive economic signs and putting every effort to attract skilled workers. The country is currently experiencing labor crisis in many sectors, so now is a great opportunity for anyone planning to build a life in Canada to kick-start their immigration process. For more information about Canadian immigration, you can contact with us at 8595338595 or [email protected]