Canada Is Ready to Host Over 1 Million Foreign Workers to Strengthen Its Economy
A review released and posted by Statistics Canada in 2022 showed that, for the first time since May 2021, Canada has had a lower unemployment rate. Aspects like payroll, salary, hours worked, and job vacancies were evaluated to understand the actual scenario. Canadian workers who receive compensation or benefits from their employer have dropped for the first time since May 2021.
A survey by the ‘Bureau of Labor Statistics found that there were 27,000 fewer jobs than in the same month last year. More than half of all employment in Ontario and Manitoba has been eliminated over the past year. The number of persons receiving a regular paycheck increased in one province.
The Number of Employees on the Payroll Is Decreasing
An approximate figure of 17,000 jobs from different sectors such as, health sector, education, social assistance, construction, airlines, agriculture, etc., was eliminated. Strikes across the province hampered a number of significant projects. In Ontario alone, the construction sector faced a massive shortage in labor.
Retail Trade Employs More People Than Any Other Industry
According to a report from the province of Ontario, there has been a reduction in the number of employees in retail trade professions for the second month in a row. There is still a six percent increase in retail trade employment from May 2021 to the present day. While retail trade employment in Ontario fell, the other provinces of Quebec, New Brunswick, British Columbia, and Newfoundland and Labrador all saw a rise.
The Typical Weekly Wage Has Grown by 2.5%
Despite the loss of jobs, retail commerce saw the largest growth in weekly wages in May, with a 9.3% increase over the same month in 2021. Workers in these fields are seeing an 8 percent increase in wages. In contrast, the arts, entertainment, and recreation businesses suffered a 9.6 percent drop in average weekly earnings. There has been a 2.5% increase in employee average weekly earnings since April.
This may be due to rising wages or changes in employment opportunities for workers. The overall pattern of year-over-year growth is also evident. Compared to May 2021, New Brunswick saw the biggest rise of 7.4% in May. In second place with 5.9 percent was Newfoundland and Labrador. Average earnings increased year-over-year in seven additional provinces, too.
Vacancies in the Health Care Industry Are Increasing at an Alarming Rate
During the month of May, the unemployment rate in Canada was at an all-time low of 5.1%. (It dropped further to 4.8 percent in June). There are 145,000 vacancies in the health care and social services sectors, or 6.2 percent, according to the poll). Since April, the vacancy rate has increased by 5.4%, and it is now 21% more than it was in May of this year. For the month of May, there were 162,000 job vacancies in the lodging and food services sector, mainly in Nova Scotia and Manitoba. Vacancies at lodging and dining establishments have been at their highest level for the thirteenth month running.
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