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Canadian job market recovering faster from COVID-19 impact than the US

Canadian job market

Canadian job market is recovering fast from impact of COVID-19, in fact, much faster than that of the US.  The employment rate in Canada was 2.7 percentage points lower in September compared to February this year, while in the United States, the rate was 4.5 percentage points lower.

Canada adopted cautious approach to re-opening after the lockdown and as a result, the recovery was not only stronger, but widespread. Eleven out of fifteen industries in the country have returned close to pre-pandemic levels. This is especially true in industries such as utilities, education, and service sectors including professional, scientific and technical sectors. However, not even a single industry in the US has been able to achieve these levels so far.

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The way in which two countries managed the COVID-19 situation definitely had an effect of the recovery pace of their respective job markets. COVID-19 death rates in Canada were lower compared to the US. In the US, the death rate per million was 670, while in Canada, it was 265. Canada also adopted stronger policies to attract parents back to workforce. The parental leave programs of Canada allow individuals to take unpaid leave for up to 26 weeks. Policies such as paid vacations also helped Canadians to stick to their jobs. Further, schools and daycares fully reopening in September, allowed parents to return to work. On the other hand, U.S. employees got only up to 12 weeks of paid leave to care for children, that too, only with employers with fewer than 500 employees. There’s also no U.S. law requiring employers to give parents leave to care for their children.

Canadian job market growing fast

After Canada eased restrictions in June, the country added new 952900 jobs. In September, the job growth was 378000. At the same time, the US added 4.8 million jobs in June and 661000 jobs in September. However, while looking into this statistics, you need to keep in mind that the population of the US is almost 9 times the size of Canada’s.

Another factor that affected the job growth in the US is the upcoming elections that have created a political uncertainty in the country. Further, the ban on H1-B visa by the US has also negatively affected the STEM workers. At the same time, Canada is using immigration as a solution for slow population growth and the scarcity of skilled employees.
A survey conducted by Envoy Global before the pandemic outbreak found that 51 percent of the US employers were thinking about expanding their presence to Canada. It was 38 percent in 2019.
All these factors indicate that Canada is the best destination for immigration in the post-COVID era. If you want to know more about Canada migration and explore your options, get in touch with the immigration consultants of CanApprove now!

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