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Canada’s employment rate drops below five percent- for the first time in history!

Canada’s employment rate drops below five percent, for first time in history

For the first time in history, the unemployment rate of Canada dropped to a record low of below 5 percent in June. It indicates a tight labour market, as the country’s economy is rebounding from the impact of the pandemic. According to Labour Market Survey, the unemployment rate of Canada dropped by 0.2 percent in June to 4.9 percent. While unemployment was below 5 in six out of ten provinces, the rate was below 4 percent in Saskatchewan and Manitoba. In the core-aged working population of 25 to 54, the unemployment fell to 4.1 percent, which is also a record. Unemployment rate was 4 percent among men, while it was 4.2 percent among women.pnp-finder
Among the provinces, the lowest unemployment rates were recorded in Manitoba and Saskatchewan. In Manitoba, the unemployment rate was 3.8 per cent, while in Saskatchewan, the rate was 3.9 percent.

Low unemployment rate of Canada rates indicate more job opportunities for immigrant workers. Canada has huge demand for immigrant workers to fill its labour market needs. As the Canadian economy is fast recovering from the impact of the pandemic, Canada is taking earnest efforts to attract more skilled workers to the country. Canada has a sophisticated immigration system, which has more than 100 pathways for economic immigrants, the most popular among them are Express Entry and Provincial Nominee Program pathways.

Canada looks at immigration as a solution to its demographic and labour problems.The country which has one of the lowest natural birth rate and the population of the country is aging fast. So, Canada needs immigrants to ensure a healthy rate of population growth and have a proper supply of labour to meet the demands of various industries. Further, the number of people in the employable age, which means who can spend, pay taxes and contribute their skills to the economy is dwindling. This is another reason why Canada needs more immigrants. This will result in lesser unemployment rate of Canada.
Once you become move to Canada, you may enjoy all the benefits of being a permanent resident of the country, which include free healthcare, free school education for children, more job opportunities, better pay and an opportunity to become permanent resident of the country. Do you wish to know how to migrate to Canada? Connect with the Canada migration experts of CanApprove. Contact us now!

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