Canada demanding more foreign workers as unemployment rate falls

Canada demanding more foreign workers as unemployment rate falls

In May 2022, Canada sees an all-time low unemployment rate of 5.1%. As a result, the country – Canada demanding more foreign workers as unemployment rate falls.

Due to a heavy rise in job vacancies and a consistent fall in the employment rate, Canada needs skilled foreign workers. The current fall in the unemployment rate is the lowest as of May 2022. And this is the third consecutive month where it is on a decline. In addition, the current rate of 5.1% is the lowest Canada has ever hit since 1976.

As per Statistics Canada’s Labour Force Survey, we can see the following updates:

  • Full-time jobs in May are up by 39,800.
  • Over and above 135,000 people got full-time jobs in Canada.
  • However, the major benefits went to females out of all age groups.
  • In comparison to three months trends, the unemployment rate went up from 0.1% to 5.1%.
  • The rate of people looking for jobs in Canada but not looking is lower from 7% to 0.1%.
  • Also, the ratio of unemployed people to job vacancies is lower at 1.2% in March 2022.
    • So, this means Canadian employers due to a tight labour market are not able to get and retain more foreign workers.
  • In addition, on a year-to-year basis, the average hourly wages are up by 3.9%.

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