Around 150000 new jobs were added to Canada’s labour market in January 2023, making it a solid month in terms of employment. The unemployment rate in the country continued to remain at 5 percent in the month. The highest number of new jobs was added in the provinces of Ontario, Quebec and Alberta. So, in the last four months from September 2022, Canada’s labour market witnessed an increase in the number of new jobs by around 3,26,000.Currently, Canada enjoys an employment rate of 62.5 per cent, which is the highest since May. Employment rate is the percentage of people aged 15 or older who are employed.
News jobs added in provinces
Among the provinces, Ontario added the highest number of new jobs, around 63000 in total. The unemployment rate in the province was 5.2 per cent. In January, the lowest unemployment rate among the Canadian provinces was recorded by Quebec, which was 3.9 per cent. 47000 new jobs were added by the province. In Alberta, employment rose by 21000. Since last year, the province has added a total of 99000 new jobs. The unemployment rate was 6 per cent. In Nova Scotia, the number of new jobs was 9400. Saskatchewan also added 4500 new jobs.
Canada needs more immigrants
Canada is facing a severe shortage of labourers in the post-pandemic period. The natural population growth rate in Canada is low. Further, a significant number of Canadian workers will be retiring in the coming ten years. But Canada does not have enough young workers to replace them. Above that is the higher demand for labour force as the country’s economy is growing fast. In this context, Canada is seeing immigration as a solution to its demographic and labour market challenges. So, the country will continue to welcome a high number of immigrants in the coming years. By 2025, Canada will be admitting more than 500000 new immigrants every year. India being the top source country for immigrants to Canada, this gives a lot of hope for those who aspire to immigrate to Canada.
Do you wish to know more about migrating to Canada from India? The Canada immigration experts of Canada can help you. Connect with CanApprove now!