Statistics Canada: November 2017 records lowest unemployment rate of decadePosted on December 4, 2017
According to the Statistics Canada’s new Labour Force survey reports, the Canadian unemployment rate has come down to its lowest point of the decade, during the month of November. The unemployment rate in November 2017 was 5.9%; this similar lowest being in February 2008. By the addition of 80,000 new jobs throughout Canada, the employment rate has increased continuously for the second month in November. Majority of jobs gained in past 12 months were as high as 390,000 were fulltime jobs; with an increase of 2.1% gradually. The people who were most benefitted by this employment rise were men aged between 25 to 54 years, youngsters between 15 to 24 years and women aged above 55 years.
Ontario reflected the highest gains:
Ontario, Quebec, British Columbia, and Prince Edward Island were the top Canadian provinces which had a rise in employment during the month of November 2017, compared to the other Canadian provinces. Ontario’s unemployment rate has dropped to 5.5% which has been the lowest since 2000. With most jobs created in the wholesale and retail trades along with manufacturing sectors, Ontario took the lead from other provinces by creating 44,000 new jobs in November 2017.
Recently, Statistics Canada reported that Ontario, from the first quarter of year 2016 has seen the downfall of its unemployment rates by gaining employment rates each year with a total of 181,000 or 2.6% all of it being full time work. In November, British Columbia stands next to Ontario province with over 18,000 new jobs, majority of them being full-time. British Columbia’s unemployment rate was the lowest through Canada for November month with 4.8%. With most of the jobs created in the Construction and Manufacturing sectors, Quebec has added 16,000 jobs in the month of November, by increasing its employment rate for the second month consecutively. Quebec also has made its unemployment rate stand at 5.4% which was recorded the same previously in January 1976.
Wholesale & retail sectors gained most jobs:
Over the past 12 months, nearly 80,000 jobs were created during the month of November 2017 in which 39,000 jobs were from wholesale and retail sectors alone. The employment rates in this sector have seen a growth of 3% growth in past 12 months. Manufacturing jobs have also seen a huge rise, with nearly 30,000 jobs being created in November month. “With other sectors like educational services and construction sectors gaining 21,000 and 16,000 jobs, this trend has been consistent over 2017” says Statistics Canada.
The November Labour Force Survey reported that as per Canada’s 2016 census, immigrants constituted about 25% of the total Canadian workforce in 2016. The province census data also displays that 50% of the total workers in Toronto were 43.2% of total workers in Ontario were immigrants in 2016.