Unemployment rates fall to 6% in Canada, Job growth opportunities boosts

Canadian employers add up 1,54,000 jobs to their labour market. This led to a point higher in the employment scale, making it equivalent to pre-pandemic level. In addition, unemployment fell to 6%, which is within 0.3 percentage points of its February 2020 level.

New labour force data show that Canada is on its way to a complete economic recovery, with employment exceeding expectations and unemployment dropping back to pre-pandemic levels. In November, the unemployment rate declined 0.7 percentage points to 6.0 percent, marking the sixth consecutive monthly decrease and the greatest since March 2021.

Ontario, Quebec, Alberta, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island all had increases in employment in November. In British Columbia, Manitoba, Saskatchewan, and New Brunswick, there was little change.

However, despite increased employment, labour supply shortages still exist.

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The private sector led hiring in November, both for full-time and part-time employees. Despite this, Canada continues to face labour shortages in industries such as hospitality, food services, retail trade and health care. There were about one million job openings across the country in September.

The majority of government agencies are COVID-compliant. In late October, 19 financial aid programmes came to an end. It may have driven them to accept job offers, according to some observers. The Canadian Recovery Benefit for Individuals, which had been criticised of deterring people from returning to work, was one of these initiatives. The lack of wage growth, according to the Conference Board of Canada, was an even larger disincentive, particularly in low-paid service industries.

But there are certain sectors that followed a downward trend in October, employment in professional, scientific, and technical services and public administration climbed by 28,000 in November. These sectors saw an e Employment increase by 190,000 from February 2020.

The above data is taken from Labour Force Survey Statistics, Canada and reflects labour market conditions from November 7 to 13, 2021. Policies requiring proof of vaccination and other public health precautions were mostly unchanged from October.