Visa Crunch

Recovering signs for the Canadian economy as it touches pre-pandemic levels with 94,000 new job openings

During the course of the past month, Canada’s economy returned to pre-pandemic levels. The July Labour Force Survey by Statistics Canada gazed at the labor market in Canada during July. Thanks to the decrease in COVID-19 infection rates and increased immunization, public health curbs were considerably lowered throughout Canada last week. The job opportunities took a thrust by 1.3%, adding 94000 new jobs in the market. Improvements largely focused on full-time jobs, especially in the service industries in the private market. Joblessness has dropped to 7.5 percent, the same as in March. Ontario, Manitoba, Nova Scotia, and Prince Edward Island all saw a significant increase in job opportunities.

Good news for “very recent immigrants” as employment rates for them are on a rise

Immigrants who arrived over the last five years are referred to as “very recent” immigrants by Statistics Canada. Because the borders were forced to shut in March 2020 owing to the COVID-19 pandemic, the number of people in this group has decreased. Since their numbers are dwindling quicker than their rate of employment, the rate of employment for very recent immigrants has been growing rapidly all through the pandemic. In July, the rate of employment for very recent immigrants elevated by one percentage point to 69.1%, up from 69% in June.

In July, 58.1 percent of immigrants who had been residing in Canada for more than five years were employed which plunged by a fraction of a percentage point from June. Consequently, because of the travel restrictions and certain other coronavirus-related interventions, growth rates declined in 2020. Nevertheless, between January and July, the amount of very recent immigrants involved in the labor force restored to 2019 levels, accounting for nearly 4% of the total labor force.

Border measures were eased for permanent residents of Canada during June end which saw a significant increase in travel. Canada welcomed 35,700 new permanent residents which are significantly higher than any other month during the pandemic. The total number of new immigrants admitted in July is yet to be announced.

As travel becomes less restrictive due to a fall in the infection rates, Statistics Canada says its Labour Force Survey will track if the number of new immigrants entering the labor market in Canada continues to rise.

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