Due to the recent ongoing pandemic, Canada saw a steep decline in employment rate as due to the countrywide lockdown imposed, there were many layoffs and limited job vacancies.
Now that Canada has loosened the restrictions imposed due to the Coronavirus, Offices and shops are opening again and new job vacancies have arisen.
The Canada jobs Labor Force Survey unemployment states that the unemployment rate is 5 percent down from the peak of 13.7 percent in May 2020.
In the month of September 2020, Canada has added 378,000 jobs and as a result of which, the unemployment rate has gone down to just 9 percent and the employment rate sits around 59 percent. This shows that Canada is recovering quickly from the after-effects of the Covid-19 pandemic and with the rise in the number of jobs, the number of total jobs is equivalent to the scenario before the Coronavirus lockdown.
Due to the lockdown, an estimated 5 million people were affected financially in May 2020. This figure has dropped significantly as about 1.3 million people were still affected in the month of September.
The employment rate of full-time workers rose by 2.1 percent while the employment rate of part-time workers increased by 1.3 percent.
|Unemployment rate (%)||9.0|
|Employment rate (%)||59.1|
|Labour force participation rate (%)||65.0|
|Youth (15-24) unemployment rate (%)||18.9|
|Men (over 25) unemployment rate (%)||7.8|
|Women (over 25) unemployment rate (%)||7.0|
Canada’s two biggest provinces, Ontario and Quebec had the highest increase in employment rates followed by Manitoba and British Columbia. There was no significant increase in the employment rate in New Brunswick and Prince Edward Island.
Unemployment Rates In Canada’s Provinces
|Province||Jobs change in last month||Unemployment rate (%)|
|Prince Edward Island||-800||10.1|
|Newfoundland & Labrador||3,700||14.8|