Low unemployment and high participation rate indicate persistent job vacancies in Canada
The Statistics Canada’s latest Labour Force Survey results reveals signs of a very much healthy employment, as the canada country’s economy continues to grow and normalise after the COVID-19 pandemic outbreak.
The latest report shows September of 2023, Canada’s unemployment rate: The Statistics of unemployed individuals in the country over the age of 15, divided by the country’s total labour force was stable at 5.5%, seeing much changes from the start of the year.
The rate of employment (number of labour force participants divided by the Canadian population aged 15 and over) was very much consistent throughout the year, standing at 62% in September. Employment move up among both core aged (25-54 years of age) women and men, while employment for those 15-25 and older than 54 years of age saw little.
Which industries saw the biggest changes in employment?
So many industries saw several changes to their employment rate in September 2023, most of them are positive.
The number of individuals employed in educational sectors saw an high increase of over 65,000 employed positions, in September, which compensated for the drop of 44,000 in August. Employment opportunities also grew in transportation and warehousing by 19,000 positions.
The following industries experienced increase in employed positions in September:• Finance, insurance real estate, rental and leasing: -20,000 employed positions;• Construction: -18,000 positions; and• Information, culture and recreation: -12,000 positions.
Sectors targeted by category-based selections
To fight persistent labour market shortcomings in key sectors, Immigration and Citizenship Canada (IRCC) has instituted category-based selection draws to the Express Entry system; wherein candidates with high professional experience in these sectors may be chosen for Canadian immigration with more importance placed on their professional qualifications, rather than their Comprehensive Ranking System (CRS) score. This year is the first where the effects of this new policy may be measured. Candidates with experience in sectors that require labour may find success immigrating to Canada through these specific categories.
