Canada’s unemployment rate falls to new record low of 5.2%

Canada's unemployment rate falls to new record low of 5.2 (1)

According to the official figures, 5.2% of the jobs were down under Canada’s record-low employment in April. A consolidated figure of the set of jobs was revealed by the survey conducted by the Statistics Canada Labour Force after the significant increases in employment over the last two months.

The unemployment fell to 3.9 percent in Quebec, which was the lowest compared to the rest of the provinces, and how strict the labor market has turned in the French-speaking province. The employment rate of Canada had held a firm at 61.9 percent in April.

According to the statistics, the unemployment rate for 25 to 54-years-olds took a downturn to 4.3 percent, which was the lowest since the records have been started in 1976. The women have witnessed the employment rise by 43,000 jobs, offset by 36,000 denials for the men.

The employment was held steady for both the younger aged individuals from 15 to 24 and the senior group of 55 years.

*Check your eligibility to Canada instantly through Y-Axis Canada Immigration Points Calculator instantly for free.

 Below are the highlights  of the Labour Force Survey

Unemployment rate (%) 5.2
Employment rate (%) 61.9
Labour force participation rate (%) 65.3
Number unemployed 10,85,800
Number working 1,96,00,500
Youth (15-24) unemployment rate (%) 10.1
Men (over 25) unemployment rate (%) 4.5
Women (over 25) unemployment rate (%) 4.5

*To get more updates, follow the Y-Axis blog page

Provincial Canada jobs picture

In Quebec, unemployment continued to drop regardless of a decrease of 26,500 jobs. The province had seen a decline in employment under educational services and construction.

Meanwhile, New Brunswick has seen an increase in employment by 6,700 jobs, overtaking its pre-pandemic level for the first time since the restrictions of the pandemic were relaxed. The unemployment rate of the province has dropped to 7 percent.

Furthermore, the gains in Atlantic Canada were seen in Nova Scotia, which added 5,900 jobs with a 6 percent unemployment rate. The unemployment rate has fallen to 10.8 percent after 2,500 jobs were added in Newfoundland & Labrador.

Another powerful performer was Alberta, with an additional 16,000 jobs in its initial noticeable development since December 2021. The retail and wholesale industries of the province had the strongest performers, as it has witnessed a drop of 0.6 percent to 5.9 percent points in unemployment.

The only province to see an employment increase is Ontario, which added 14,300 jobs for an unemployment rate of 5.4 percent.

Unemployment Rates In Canada’s Provinces

 Canadian provinces Jobs change last month Unemployment rate (%)
Alberta 16,000 5.9
Saskatchewan -900 5.5
Manitoba -500 5
Ontario 14,300 5.4
Quebec -26,500 3.9
New Brunswick 6,700 7
Nova Scotia 5,900 6
Prince Edward Island -200 8.1
Newfoundland & Labrador 2,500 10.8
Canada 15,300 5.2

Industrial perspective of the Canadian jobs

According to the industry’s data, the professional, technical, and scientific services were the top performers in April.

Fifteen thousand jobs were added to 121,000 by the industry in the past year, at 7.3 percent, which is more than the total employment growth.

Planning to Migrate to Canada from Australia? Get guidance from Y-Axis, the leading overseas career consultant in Australia.

If you found this article engaging, you may also like….
Alberta lifts restrictions on temporary foreign workers

About author View all posts

Y-Axis

Leave a Reply

Your email address will not be published. Required fields are marked *

5 + eleven =