Canadian Job Market Favorable For Immigrants

By Author: Nationwide Visas
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Statistics Canada has revealed in its latest report that the job market is favorable for immigrants. This is an exciting update for all those who are trying to figure out how to get job in canada from india. The data from October 2022 Labor Force Survey reveals that 62% plus of migrants in Canada aged 15 years and higher are employed.

The survey further elaborates that the rate of employment for immigrants who moved to Canada in the last 5 years was 70.7%. It is higher than the rate of employment in the pre-pandemic period of October 2019.

The maximum gains in employment apart from immigrants were recorded by the Food Services, Manufacturing, Accommodation, and Construction sectors. The private sector for the first time witnessed a hike in the rate of employment after 2022 March, added the survey.

In October 2022, the gain in employment was witnessed in full-time work with 119,000 positions getting filled. The rate of employment in part-time jobs remained unchanged as ...
... per the data from Statistics Canada.

Ontario leads the provinces in employment growth

The Ontario province in Canada recorded maximum gains in employment followed by the following provinces:
· Quebec
· Prince Edward Island
· Newfoundland and Labrador
· Saskatchewan
· Manitoba
By adding 43,000 positions including part-time, Ontario witnessed the maximum increase in jobs in Canada. The survey also highlighted that males are more likely to obtain full-time jobs in comparison with females. The rate of employment growth was 3.9% for males and 1.9% for females.

The gain in employment for both genders was recorded chiefly in the age group of 54 to 25 years, the core working age. Males in the core working age group comparatively gained more full-time work in October at 0.7% while it was 0.4% for females.

Nevertheless, females in the age group also recorded a decline in the rate of employment with a decrease of 1.7%. Their overall rate of unemployment stood at 10.5% in October.

The latest survey by Statistics Canada also stated the rate of unemployment for October to be steady at 5.2% even as jobseekers increased. The gains in employment reversed most of the losses witnessed in recent months. It was also a surprise for market analysts who forecasted just a marginal increase in employment.

Canadian economy remains resilient

Prime Minister Justin Trudeau highlighted that economies across the globe were witnessing a decline. Irrespective of the intensity of this economic decline, Canada is equipped to withstand it due to our strategic approach since the start of the pandemic. Canadian economy remains resilient amidst the economic turbulence, added Trudeau.

Rishi Sondhi the TD Economist noted that the latest labor market survey by Statistics Canada clearly highlighted the strength of the Canadian economy. Employment increased in a wide range of sectors in Canada in October. The top sectors with growth include Construction, Manufacturing, Food Services, and Accommodation.

Jimmy Jean the Chief Economist at Desjardins said that the latest report surpassed the projections by experts to a considerable extent. However, the economic growth is likely to be slower owing to the increasing rates of interest, he added. The past economic records reveal that in such a scenario the spending by consumers declines including housing. This results in an overall slowing of economic growth explained the Chief Economist.

On the other hand, the reduced economic growth does not essentially have to be prolonged or severe, added Jean.

The Bank of Canada has been increasing rates of interest assertively in 2022 responding to the high rate of inflation in decades. It has even indicated increasing the interest rates even higher.

Salaries in Canada continue to increase

The latest labor market report published by Statistics Canada also highlighted the increase in salaries for the fifth month in a row. In comparison with October 2021, salaries in Canada in October 2022 increased by 5.6%.

The survey outlined that those who earned high salaries have more chances of an increase in salary in comparison with those who earned lesser salaries.

Almost 2/3rds of the workers who earned $40 plus hourly received a raise in wages. This is if they have remained with the same employer in the last 1 year. Comparatively, 50% of the workers earning lesser than hourly $20 received an increase in their wages.

The report also surveyed residents in Canada regarding their financial circumstances even as inflation reached the highest level in the last 40 years. More than 1/3rd of the residents in Canada expressed toughness in fulfilling their monetary needs. Before 2 years, only 1/5th of the residents in Canada expressed facing these challenges.

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