As summer began, unemployment was down, wages were up, and Canadian employers were aggressively seeking to fill slightly over one million unoccupied positions.
The record-low unemployment rate in Canada
- In Canada, July marked the fifth month in a row with historically low unemployment, remaining at 4.9%, the same rate as June and a drop of 0.2 points since May.
- Employers have been posting “We’re recruiting!” signs nearly everywhere in the economy for some time, yet they still have trouble staffing their teams with fresh talent. This affects every sector of the economy, including specialised jobs like nursing, unskilled jobs like waiting tables, and a wide range of jobs in between.
- Employers were actively looking to fill just over one million (1,005,700) open positions across all industries in Canada at the outset of May, up 42.5% (+300,100) from May 2021. According to public data, the number of vacant positions increased through the second half of 2021 and has been hovering around one million since approximately December 2021.
- Health care and social assistance (143,400), lodging and food services (161,100), retail trade (99,200), manufacturing (86,800), construction (84,600), transportation and warehousing are a few of the industries that are in desperate need of labour (51,100).
The government of Canada’s ambitious immigration goals, which include admitting more than 1.3 new permanent residents between 2022 and 2024, are significantly influenced by the continued labour shortfall.
Do you intend to establish your life in Canada? Explore your immigration opportunities with us at Dynamic Group.
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