Canada’s Unemployment Rate Falls to 6.9%

The unemployment rates in Canada increased from 7.2% to 7.8% as per records in May. Across Alberta, around 24,100 people lost their jobs working in several industries. Resource and construction sector was affected the most.

The unemployment was also faced by people who moved there under Canadian immigration.

Canadian government responded to the issue by adding a net of 13,800 job vacancies, a number quite higher than expected. This lowered the unemployment levels dropping to 6.9% only. This is not only good for the locals but also for the people who are working in Canada under Canadian immigration programs.

The drop in unemployment levels as seen this month has never been seen in the past year.

The labour market in Canada was struggling for getting new jobs. The unemployment rate and joblessness levels hit their lowest in 30 years’ record. But the new statistics has changed the things dramatically.

The increase in unemployment resulted in the decrease in the working hours of a week by 5.1% as per records of a survey held from May 15-21.

However, the larger than expected increase in employment opportunities sounds good news. The Canadian data market economists Nick Exarhos exclaimed in a note.

The boost in paid employment opportunities has been noticed in both full time as well as part time jobs. But the full time paid employment boost is vivid.

60,500 full time job vacancies were added in May this year. This led to a decline in part time vacancies by omitting 46,800 positions.

The number of employees getting weekly or biweekly wages increased to 24,800, declining the self employers and contractors by 11,100.

The data shows that the category named “other services” had the highest gain by increasing the number to 23,900 job vacancies. Civic, professional organizations and private households had gained the most vacancies in this category.

Retail trade and wholesale sector experienced the biggest decline by having a downfall in 41,200 job positions.

The manufacturing sector maintained the records with an increase by 12,200 job opportunities. While the employment rate decreases by 15,900 in the natural resources sector.

Talking about the regions, Alberta lost 24,100 jobs this May, excluding the data from Fort McMurray.

Since the job openings have increased this month, there’s a good chance for people to apply for Canadian immigration under work visa or skilled Canadian immigration programs.

The immigration consultants at immigrationexperts.pk can help you to have a successful immigration to Canada.