Unemployment rate of Canada remains at record low in July 2022 as well

As per the latest report from Labour Force Survey- July 2022, unemployment rate of Canada held stable at 4.9% in July 2022 as well, similar to the historic low reached in June. The LFS and SEPH (Survey of Employment, Payrolls and Hours) releases the data for labour force, employment and payroll, etc. periodically to keep an eye on the current situation of employment in the maple leaf country. Find out more.

Low and stable Unemployment rate

There was slight movement in the rate through the foremost demographic groups. Among the people aged 25 to 54, the unemployment rate was 4.0%, and was slightly changed compared to June for both core-aged men (4.0%) and women (4.1%). Although, the total number of unemployed people held stable in July 2022. Moreover, there were people wanted a job, however, did not look for one, and hence, did not fulfil the definition of unemployed.

Just over 1 million vacant jobs for the second consecutive month in May

Through all sectors, Canadian employers were aggressively seeking to fill just over 1 million (1,005,700) vacant positions at the starting of May, slightly changed from the record high of the last month, and up 42.5% (+300,100) from May 2021 (not seasonally adjusted).

Also read- Canada Ranks as the best country in the world to live as per US News and World Report

New data established by Statistics Canada to eliminate seasonal variations show that job vacancies improved steadily until December 2021 before steadying to some extent in recent months. Here are few key points related to the job vacancies:

• Job vacancy rate in health care and social assistance, as well as in accommodation and food services increased significantly compared to other sectors.
• Job vacancies reached record highs in Nova Scotia (+22.1% to 24,600), and Manitoba (+15.3% to 32,200) in May
• Average weekly earnings are up 2.5% on a year-over-year basis

Right time for skilled professionals to apply for Canada PR visa

With easing immigration rules and ample career opportunities, this is the ideal time for the skilled professionals to apply for Canadian Permanent Residency (PR) Visa.

To confirm your eligibility and apply for visa in Canada, you may get in touch with Canada immigration expert at Visas Avenue. You may call VA expert on Toll-Free No. 78-18-000-777 or you can drop us an e-mail at info@visasavenue.com.

Disclaimer: Visas Avenue does not offer consultancy on overseas jobs/work permits/international or domestic placements, etc. We are primarily an immigration advisory company that offers consultation for worldwide immigration options.

- Rajneesh Kumar