Bumper October For Canada Economy Sees Country Add 108,000 Jobs

Canada Job Vacancies Dropped Further In Previous Quarter
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Statistics Canada data reveals that Canada jobs roared back to life in October as the country saw 108,000 more workers employed.

“Employment rose in several industries, led by manufacturing, construction, and accommodation and food services,” notes the statistical and demographic services agency in its latest Labour Force Survey released Friday.

The country did, however, shed jobs in the wholesale and retail sector and in the natural resources industries.

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Immigrants were among those who are benefitting the most from the uptick in jobs, reveals the Labour Force Survey for October.

“The employment rate of immigrants aged 15 and older … was at its highest level for the month of October since comparable data became available in the labour force survey in 2006,” reveals Statistics Canada.

Across the country, more immigrants are landing jobs now than before the COVID-19 pandemic first hit Canada. Among those immigrants admitted to Canada within the last five years, their employment rate of 70.7 per cent in October was 5.6 percentage points higher than before the pandemic in October 2019.

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The strength of the Canadian labour market is such that the country’s unemployment rate held steady at 5.2 per cent in October despite the total labour force growing by 110,000 workers.

All the growth in jobs in Canada in October came from the private sector.

Gen Xer and Millennial workers snagged the bulk of the new jobs in October with employment growing among both men and women in the core working ages of 25 to 54. Younger workers, Gen Zers, and older workers, the Baby Boomers, saw no change in their job numbers.

The growth in jobs in October was spread out across six provinces – Ontario, Quebec, Prince Edward Island, Newfoundland and Labrador, Saskatchewan and Manitoba – with most of the gains concentrated in Central Canada.

Ontario and Quebec Added The Most Jobs

“Following a decline in September, employment in Ontario increased by 43,000 jobs, up 0.6 per cent, in October, primarily in part-time work,” reports Statistics Canada. “The unemployment rate in the province was little changed at 5.9 per cent.

“Employment gains were led by accommodation and food services and professional, scientific and technical services. In the census metropolitan area of Toronto, employment rose by 31,000 jobs, or 0.9 per cent, in October, while the unemployment rate was unchanged at 6.3 per cent.”

The francophone province of Quebec added 28,000 jobs, up 0.6 per cent in October, the second increase in three months. 

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“The province’s unemployment rate fell 0.3 percentage points to 4.1 per cent,” says Statistics Canada. “Gains in full-time work more than offset a decline in part-time work. 

“The largest employment gains (in Quebec) were in construction, and finance, insurance, real estate, rental and leasing.”

That province has the highest job vacancy rate in Canada and its biggest city, Montreal, had an unemployment rate of only 4.2 per cent in October.

In the wake of post-tropical storm Fiona and the massive job of rebuilding homes, roads and other infrastructure, employment increased by 4,300 jobs, or 5.3 per cent, on Prince Edward Island in October, more than offsetting a September decline. The province’s unemployment rate declined by 2.9 percentage points to 5.4 per cent.

PEI, Manitoba, Newfoundland And Saskatchewan All Saw Jobs Growth

Newfoundland and Labrador also added 3,300 jobs in October. Employment in Saskatchewan was up by 6,100 jobs and Manitoba added another 4,600.

Due to rising inflation in and severe labour shortages across the country, Canadian employers are sweetening the pot and upping wages in their bids to attract workers.  

“Year-over-year growth in the average hourly wages of employees remained above five per cent for a fifth consecutive month in October, rising 5.6 per cent, up $1.68 to $31.94, compared with October 2021,” notes Statistics Canada.

Canadian employers hoping to attract workers through economic immigration can recruit them through the Temporary Foreign Worker Program (TFWP) and the International Mobility Program (IMP).

The Global Talent Stream (GTS), a part of the TFWP, can under normal processing situations lead to the granting of Canadian work permits and the processing of visa applications within two weeks.

Employers can also bring in foreign nationals to fill available positions through the Express Entry system, which receives immigration applications online.

It powers the Federal Skilled Worker Program (FSW), Federal Skilled Trades Program (FST), and Canada Experience Class Program (CEC) which all draw from the Express Entry pool of candidates. Those with the required Comprehensive Ranking System (CRS) scores are then sent Invitations to Apply (ITAs) in regular draws.

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