Canada’s Economy is Recovering; The Country’s Economy has Added 84000 New Jobs in October - Musichype
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Canada’s Economy is Recovering; The Country’s Economy has Added 84000 New Jobs in October

Job / Recruitment

Canada’s Economy is Recovering; The Country’s Economy has Added 84000 New Jobs in October

Canada has become one of the top countries that draw economy-class immigrants, thanks to its favorable immigration policies and welcoming people. In October, the government managed to create 84,000 new employment opportunities in its job market. Despite that feat, the figure indicated a slower trend, considering the higher numbers recorded in the previous month.

According to reports, there were 378,200 jobs created in Canada’s labour market between August and September. So, why was it that that the figure dwindled in October?

Return to Travel Restrictions

One of the primary reasons for the little activity in the job market in October is because travel restrictions were re-imposed to prevent the escalating number of new COVID-19 infections.

According to the latest Labour Force Surveillance report by Statistics Canada, there is wasn’t any significant change in the employment rate as compared to September. In October, the employment rate was 8.9% compared to the employment rate in September, which was 9.0%.

Increased Self-Employment Enterprises

On a more positive note, the survey also highlighted a positive note. For the first time since the coronavirus pandemic was declared a global crisis in March, Canada recorded the highest number of new self-employment enterprises – 33,000.

Workers have also been working for short hours, most of them working remotely. Among those who worked for at least half their working hours, 150,000 worked from home.

When you look at how October’s increase in employment opportunities has affected different demographics, women seem to be the major beneficiaries. Most of them fall between 25-54 years. Generally, youth employment remained lower than the pre-pandemic era as compared to other demographic groups.

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