According to the Labor Force Survey, Canada has ended its crisis as employment rose by a whopping 90,000 in August. The rapid increase in the employment sector for the third consecutive month has brought the economy of Canada back on its foot. Data of Statistics Canada reflects the labor market condition of the week starting from August 15.
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Increase in employment has been noticed in services-producing industries like accommodation and food services. Culture and information and recreation industry witnessed noteworthy gains. People working in the construction sector has also increased since this past March.
Unemployment has been at its lowest at 7.1 since the onset of the epidemic, while the long-term unemployment rate in August dropped by 7%.
Canada has opened its border for fully vaccinated tourists from the United States, resulting in the possible expansion of the tourism industry. Most of the job opportunities were seen in the services-production industries and FMCG, real estate, and Information Technology sectors.
Most of the opportunities were in Ontario, Saskatchewan, Nova Scotia, and Alberta. At the same time, other provinces saw little to no opportunities, which might change in upcoming days. According to economists, there are bright chances of Canada having another gain as the COVID-19 restrictions have been eased and there is still a shortage of labor supply in the market.
For the last 5 years, immigrants in Canada have witnessed a 70% increase in employment, which is more than August 2019. In contrast, locals reached the employment rate of 61%, which is hardly 2% less than the pre-pandemic time, as per local media.
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With the continuous increase in the market, the workers have started to look for new job opportunities.
In August, the employment rate of Filipino Canadians increased at least 5% points, ending at 78%, whereas, for black Canadians, it went down to four percent to 72%, as reported by Canadian media.