The recent survey of Statistics Canada reveals that Canada's labour market is approaching a number close to pre-pandemic levels with new jobs being added.
Canada’s economy has reached a level closer to the pre-pandemic levels in July. Statistics Canada’s Labour Force Survey examined Canada’s labour market during the week of July 11 to 17. It was a time of low cases in Canada and high rates of vaccination.
In July, there were 94000 new jobs added in Canada, which is 1.3 percent under February 2020 levels. There are gains in the private sector and especially in the service industries. Unemployment has also fallen to 7.5 percent, matching the rate in March.
Statistics Canada adheres to the immigrants who have landed in the past five years as “very recent” immigrants. The number was affected after the pandemic situation in March 2020. The employment rate has seen an upward trend in the pandemic, and employment has been going at a rate in pre-pandemic times.
In the month of July, the employment rate increased to 69.1 percent. It was a One percent rise from June.
In July, the employment rate for very recent immigrants was up to 69.1 percent, up to one percentage point from June. For those applicants who have been in Canada for over five years now, the employment was 58.1 percent in July, and it was less than the percentage in June.
The number of recent immigrants participating in the labor force increased from more than 612,000 in 2016 to 751,000 in 2019. Growth was thwarted in 2020 as a result of travel restrictions and other coronavirus-related measures. However, the number has returned to 2019 levels this year, and the loss of 4 percent of the total labor force between January and July has been made up.
Source: Statistics Canada
Immigration in Canada is a way to meet Canada’s demographic challenge. Canada’s economy is highly dependent on immigration. As per the Labour Force Survey of Statistics Canada, it will monitor whether the number of new immigrants participating in Canada’s labour market will continue to grow is still to be seen.