The Canadian economy is showing a strong and fast recovery from the impact of COVID-19, with the employment in the country rising by 90000 in the month of August. Data shows that employment in the country is all set to reach pre-pandemic levels soon.
The restrictions imposed in the wake of COVID-19 have almost been rolled back. The country has succeeded in getting a vast majority of the population getting vaccinated. Plus the restrictions on the borders have also been relaxed to a great extent. All these have contributed towards increased economic activities, which have led to the revival of the economy.
The increase in employment was mainly witnessed in services such as producing industries, mainly accommodation and food services. The other industries which saw significant recovery in the past month are culture and recreation, construction and education.
Among the provinces, Ontario, Alberta, Saskatchewan and Nova Scotia witnessed significant rise in employment. In British Columbia, the employment levels were above that of February 2020. In Ontario, employment rates kept growing for the third consecutive month in August and added 53000 new jobs. Since May 2021, the total number of employment added in Ontario is 242,000.
In Alberta, employment rose by 20000. The unemployment rate also fell to 7.9 percent. The industries which saw major gains were warehousing, information, culture and recreation as well as accommodation and food services. Saskatchewan added 10000 new jobs while the number of new jobs added by Nova Scotia was 3900.
Unemployment was at the lowest in August ever since the onset of the pandemic at 7.1 percent. The month also witnessed long-term unemployment dropping by almost 7 per cent.
The employment rate of immigrants who landed in Canada in the past five years has increased to almost 70 percent. This is more than six percentage higher compared to August 2019.
All these are positive signs for aspiring immigrants who plan to move to Canada. If you wish to migrate to Canada, start the process without delay. Connect with CanApprove for more information.