According to Statistics Canada, a major growth in the employment rate has been noticed in Canada which is up to 0.2% or 35,000! On the other hand, this massive growth in the employment rate is clearly showing better and leading economic stability in Canada, since the pandemic. However, Canada had a skyrocketing employment rate in January followed by little to no change in the employment rate in February. Now, according to recent data, March 2023 has marked the upward trend continuing to grow by 0.2% while the unemployed continue to stick to 5%.
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March has marked up to 0.2% growth in employment rates in Canada, according to Statistics Canada. On the other hand, the unemployment rate continues to stick to 5% which is indicating clear economic stability in the near future. However, the employment rate has been the same among females but has massively increased among males.
The employment rate in Canada has increased in the private sector up to 0.3%, in March in comparison to the public sector, in which there have been almost little to no changes. On the other hand, provinces like Ontario, Alberta, and Manitoba contributed a high jump in employment rates in comparison to other provinces.
The average wage per hour has jumped up to 5.3% while the working hours have increased up to 0.4%, in March 2023.
Increased employment in Sectors:
- Transportation and Warehousing +4.2%
- Building and business +4.4%
- Real estate and finance +1.3%
Decreased employment in Sectors:
- Construction -1.2%
- Persona and repair services -1.5%
- Natural resources -3.2%
On the other hand, according to the new budget policy of the Canadian government, this massive growth in the employment rate is going to continue an uptrend for the better economic and financial condition of the country.
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