Labour Force Survey- Sep 2023- Employment rose in Canada while unemployment rate remained stable

As per the Canadian Labour Force (LFS) for September 2023, the employment rose significantly in Canada, i.e. by 64,000 (+0.3%) in September, following an increase of 40,000 (+0.2%) in August. On the other hand the unemployment rate remained stable.

The Labour Force Survey (LFS) is a crucial means for monitoring Canada's employment setting. To address the imperative of increasing employment, the Canadian government relies on LFS data to enhance procedures and develop informed policies. The key strategies include job training programs, nurturing innovation in key industries, and encouraging diversity to maximize the workforce's potential. This data-driven approach targets to strengthen economic growth and reduce unemployment rates.

Employment rose in Canada

In September, the employment rate in Canada, signifying the percentage of individuals aged 15 and above who were employed, saw a slight 0.1 percentage point rise, reaching 62.0%. This reverberation balance the prior month's decline.

Meanwhile, the unemployment rate remained steady at 5.5% for the third consecutive month. Employment increases were notable among men (+32,000; +0.5%) and core-aged women (+37,000; +0.6%), while the numbers for both youth (aged 15-24) and those aged 55 and older remained comparatively unchanged.

Also read- How to Apply for Canada Immigration from India?

Industrywide assessment of Employment increase

In September, the educational services sector saw a substantial employment surge, with a gain of 66,000 positions, equalizing the 44,000-job decline in month of August. Employment also rose in the transportation and warehousing industry, adding 19,000 jobs, an surge of 1.8%. On the contrary, there were employment drops in the finance, insurance, real estate, rental, and leasing sector (-20,000; -1.4%), construction (-18,000; -1.1%), and information, culture, and recreation (-12,000; -1.4%).

Employment check across Provinces

Six Canadian provinces experienced employment growth in September, with Quebec leading the way, gaining 39,000 jobs (a 0.9% increase), and British Columbia adding 26,000 jobs (also a 0.9% increase). Contrariwise, Alberta saw a decline of 38,000 jobs (-1.5%), and New Brunswick lost 2,700 jobs (-0.7%).

On a year-over-year basis, average hourly wages improved by 5.0% in September, reaching $34.01, marking the 3rd consecutive month of 5.0% growth, following 4.9% in August and 5.0% in July. Total hours worked remained virtually unmoved in September, with a 2.6% year-over-year surge.

Advantage for New Immigrants

The constant surge in employment and a stable unemployment rate in Canada is likely to offer significant benefits to immigration aspirants and new immigrants. These factors ensure a promising job market and economic stability, augmenting the prospects for finding suitable employment opportunities. With more employment opportunities available, immigrants have a better chance of securing positions that match their skills and qualifications, leading to successful integration, better livelihoods, and a smoother transition into Canadian society.

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To pursue permanent residency in Canada through the most suitable immigration program this year, reach out to Visas Avenue expert Canadian Immigration Advisor via our Toll-Free No. 78-18-000-777 or you can send us an e-mail at info@visasavenue.com.

- Rajneesh Kumar