In past years, Canada has risen to the top of desirable destinations for students and job applicants. This evident trend has kept Canada on its feet when it comes to immigration. Despite this, current trends suggest that Canada’s immigration laws have been successful. Canada’s economy expanded 31,000 jobs in October, as joblessness fell for the sixth month in a row. Statistics by Canada’s latest Labour Force Survey results cover the week of October 10 to 16. During the week, many governments have implemented proof-of-vaccine protocols. There were abolishing of capacity restrictions in British Columbia, Ontario, and Quebec, and proof-of-vaccination restrictions had taken their place. Losses in others offset Gains in jobs in specific industries.
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For instance, the retail trade sector has grown for the first time before June, albeit job losses in hotel and food operations offset some of the growth. In October, the unemployment rate fell for the sixth consecutive month to 6.7 percent. Even though it was higher than the pre-pandemic figure of 5.7 percent in February 2020, it was the worst in 20 months. While it appears that the economy is on the mend, some observers think that chronic labor shortages are stifling growth. As per Nathan Janzen, senior economist at RBC, the proportion of unemployed individuals is below what it would take to reinstate accommodation and food service work opportunities to pre-pandemic levels.
Furthermore, it looks that there will be inadequate workers to fill vacancies in hard-hit sectors due to the rapid rise of businesses such as technological, scientific, professional, and employment. Furthermore, fewer persons resumed jobs in lodging and food services, manufacturing, and retail trade after a period of joblessness. As a result, not all industries recovered in the same way following the epidemic. “The labor market hasn’t recovered entirely from the 2020 blow. Still, it’s on its way, and reports of scarcities are not going to go away anytime soon.” a statement by Janzen. As per Leah Nord, senior director of the Canadian Chamber of Commerce, employment vacancies will be challenging to fill. There is no “silver bullet” answer to skilled workers. In a news release, Nord added, “We won’t accomplish sustained economic progress until we construct integrated and equitable talent pipelines.” “Before we can celebrate, Canada needs a meaningful strategy to address its structural workforce issues, which were well-established before COVID.” The number of immigrants recently to Canada has risen after coming to a stop in 2020.
Despite only accepting 184,000 immigrants last year, Canada has indeed welcomed 267,000 legal residents this year. “Very recent immigrants” are individuals who have resided in Canada for less than five years. In October, more recent immigrants existed than in 2019, and there was a high probability of them getting jobs. In October 2019, this immigrant group’s employment rate was 71 percent, up six percentage points. In October 2021, foreigners who have been in Canada for more than five years had an approximately 60% employment rate, while the Canadian-born demographic had a precisely 61 percent employment rate. These are some crucial things to consider if you are contemplating relocating to Canada.
