Canada Records Lowest Unemployment Since Before COVID

Canada Records Lowest Unemployment Since Before COVID
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Canada immigration news: The Canada jobs picture took another step forwards in August as unemployment reached its lowest level since before the COVID-19 pandemic struck.

The Statistics Canada Labour Market Survey recorded an unemployment rate of 7.1 percent, down 0.4 percentage points on July, as Canada’s economic recovery continued.

As unemployment fell, employment rose for the third consecutive month, with Canada adding 90,200 jobs to move within 99.2 percent of its February 2020 level.

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The gains were concentrated in full-time work, where 69,000 jobs were added.

Demographically, employment for men aged 25 to 54 increased by 24,000 in August, but stayed the same for core-aged women. Overall, employment for the core-aged population was 84,000 jobs behind pre-COVID levels. 

Canadians aged 55 and older saw employment rise by 28,000 in August, while young people aged 15 to 24 saw employment rise by 22,000 jobs.

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What Are The Labour Force Survey Highlights?

Unemployment rate (%) 7.1
Employment rate (%) 60.5
Labour force participation rate (%) 65.1
Number unemployed 1,440,000
Number working 18,974,100
Youth (15-24) unemployment rate (%) 11.6
Men (over 25) unemployment rate (%) 6.6
Women (over 25) unemployment rate (%) 6.0

Source: Statistics Canada

Provincial Canada Jobs Picture

Provincially, Ontario, Alberta, British Columbia, Saskatchewan and Nova Scotia saw the biggest gains in August. 

British Columbia remains the only province with employment levels above those seen in February 2020.

Ontario saw employment gains for the third consecutive month, adding 53,000 jobs in August. Canada’s most populous province has now added 242,000 jobs since May 2021. “The accommodation and food services industry contributed the bulk of the employment increase, while educational services and information, culture and recreation also had notable gains,” the Statistics Canada report states.

Unemployment Rates In Canada’s Provinces

Jobs change in last month Unemployment rate (%)
British Columbia 14,400 6.2
Alberta 19,500 7.9
Saskatchewan 10,100 7.0
Manitoba -1,300 5.7
Ontario 53,000 7.6
Quebec -11,000 5.8
New Brunswick -500 9.3
Nova Scotia 3,900 7.8
Prince Edward Island 100 10.6
Newfoundland & Labrador 2,100 12.1
CANADA 90,200 7.1

Source: Statistics Canada

In Alberta, employment rose by 20,000 for the first gains since March, while the unemployment rate fell to 7.9 percent, compared to 7.5 percent pre-pandemic. Transportation and warehousing, information, culture and recreation, and accommodation and food services all saw gains.

Saskatchewan added 10,000 jobs to offset previous losses, while Nova Scotia added 3,900 jobs for an unemployment rate of 7.8 percent.

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