How does the Canadian Labour Market looks during this Pandemic?

As per the reports by Statistics Canada, there has a downfall in the unemployment rate from 0.1% to 8.9% during the period of last month. 

Canadian job bank pool just added another 84000 jobs in the month of October which is fairly slower employment growth comparing from the month before October.

The Canadian labour market created almost around 378,000 jobs during the month of August and September.

 The month of October was comparatively slow in terms of employment as the restrictions imposed due to Covid-19. This restriction was were imposed merely with an aim of reducing the risk of coronavirus growth and exposure in the community.   

In the meantime, there was a little change observed in the unemployment rate during the month of Septemeber according to survey and reports of the Statistics Canada Labour Force Survey. 

The unemployment rate in October was 8.9% which was previous;y around 9.0%. 

Thus it is adamant for this survey that for the first time during the span of Covid-19, there has been a rise in the employment figures and to be precise, the exact increase in the employment number was around 33000.

The working hour was also increased by 150,000 from the usual working hour because of the work from the home regime implied due to coronavirus. 

The group that was most benefitted with the employment increase were women in the age group of 25-54 years. Whereas the employment rate for youth age group was well below pre coronavirus as compared to other age groups.

The labour market of the Canadian provinces was also affected by this pandemic as well. But this change varies from province and province.  

A considerable employment rate increase was observed in the following provinces:

  1. British Columbia

  2. Ontario

  3. Prince Edward Island

  4. Newfoundland and Labrador

  5. Alberta 

Whereas other provinces of Canada did not see that much increase in employment as compared to above-stated provinces.

British Columbia had the most job opportunities, gaining around 34,000 jobs, almost most of them were full-time employment.

Ontario was in second place with around 31,000 jobs in the month of October. The sector was that receive the most employment were manufacturing, and retail and wholesale sector. 

Alberta created openings of around 23,000 jobs marking the increase for the fifth consecutive month after the tenure of great job losses. Most employment gains were observed in the region of Calgary.

There was an increase in the employment of around 5900 new jobs in Newfoundland and Labrador whereas in Prince Edward was 900. 

The employment rate was increasing in several industries whereas there was a loss of jobs around 48000 in the sector of accommodation and food services, mainly in the region of Quebec. This was shown in the report produced by Statistics Canada. 

Industries like information, culture, and recreation experienced a decline in the employment rate mainly in Alberta, Quebec, and Saskatchewan. 

Whereas employment sectors like transportation, construction and warehousing were unaffected by this pandemic situation in the month of October.

There was a considerable employment increase even surpassing the pre-pandemic levels in the sectors like wholesale trade, scientific, technical services, professional, and educational services.  

The reports and data provided by Statistics Canada’s Labour Force Survey offer a lot of insight in terms of employment and recovery of the Canadian market during this pandemic.  Demographic variations, industry trends, unemployment rates are some of the important criteria that someone needs to look upon during making any decision whether it is even about education as well. These insights offer a lot of assistance in regards to a lot of factors.

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