Do you work in Canada or are you considering starting soon? It’s compulsory to know about the labor or job market. It defines the relationship between the pay rate and the demand and supply for employment.
According to a Statistics Canada report released in Ottawa, the country produced 104,000 jobs in December, and the unemployment rate decreased to almost a record low of 5%. According to the average predictions in a Bloomberg survey, researchers were projecting a gain of only 5,000 jobs and a 5.2% unemployment rate.
You may find patterns and forecast economic factors by researching the labor market. By knowing more about the labor market, you may better understand your chances of obtaining work that matches your talents and interests. Let’s start!
How Is Job Market In Canada Now?
What does the Canadian job market mean? Canadian job market relates to the number of work organizations in the marketplace and the number of workers and job searchers.
We all know that Canada holds thousands of natives and foreigners. Even though Canada embraces a lot of immigrants, difficulties with qualification verification and other issues sometimes result in higher unemployment rates for newbies.
In December 2022, the Canadian economy produced 104 thousand new jobs, substantially above the market’s forecast of an increase of 5,000. Part-time employment climbed by 19.5 thousand while full-time employment rose by 84.5 thousand.
Recent years have witnessed strong job growth in Canada’s economy. Due to this expansion, both jobless and vacancy rates have reached all-time highs. The need for talent is also shifting due to globalization and technological advancement.
You’ll be surprised to know that several groups are undervalued in the labor market, and population aging stresses the labor supply. Although the percentage of adults in Canada have a high education level, as the workforce composition changes, so do the skillsets required.
Higher education can assist individuals in adjusting to the shifting skill requirements so they can remain employed throughout their careers. Check out the job market according to several sectors below:
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Immigrant Employment Statistics
18% of all employees in vital infrastructure sectors nationwide are foreigners. In most states, immigrants account for a higher proportion of essential employees than citizens and a higher proportion of all immigrants employed in the state’s labor market.
In 2021, the proportion of immigrants aged 25 to 54 in the job market increased by 2% from 2016. In 2021, 5.7% of the workforce comprised immigrants who arrived in Canada five years ago or less (a 1% increase since 2026).
In May 2021, foreigners made up 20% of workers in the construction industry, 34% of experts, scientists, and technicians, 38% of warehousing and transportation employees, and 36.2% of all middle-aged employees in the lodging and food services industries.
Unemployment Rate in Canada
The difficulties persist, although, in 2021, there was a narrower disparity between the unemployment rates of new immigrants and other employees than there was in 2016. In 2021, the jobless rate for recent working-age immigrants was 10.9%, compared to 7.7% for non-immigrants (a difference of 3.2 percentage points).
The difference in 2016 was 5% points. In that period, the unemployment rate for recent immigrants was 11%, compared to 6% for Canadians. The following theories from Statistics Canada suggest why this might have been the situation:
- According to the census report on education, immigrants who were granted permanent status between 2016 and 2021 had higher levels of education than any prior batch; a bachelor’s degree or above was held by nearly 60% of individuals
- More than 1/3rd of recent immigrants have prior employment or educational experience in Canada. Most recent immigrants with prior Canadian employment experience had a temporary work license
- Statistics have demonstrated that working in Canada before becoming a permanent resident improves immigrants’ labor market performance
Job Vacancies
According to the November Labor Force Survey, there was little change in Canada’s job growth last year, and the unemployment rate decreased by 0.1% to 5.1%. Two percentage points separate the jobless rate from the low (4.9 percent) seen in June and July 2022.
In September, Canadian companies were looking to fill 994,800 open positions across all industries, up approximately 36,300 from August due to seasonal hiring. According to Statistics Canada, the number of open positions peaks in September.
Therefore, after three months of continuous month-over-month declines, job openings remained steady when statistics were corrected for seasonal changes. The following industries have a lot of job openings:
| Industries | Job Vacancies |
| Construction | 93,900 |
| Retail trade | 117,300 |
| Health care and social assistance | 159,500 |
| Accommodation and food services | 152,400 |
| Manufacturing | 76,000 |
| Professional, scientific, and technological services | 61,900 |
Wages
The per week wage increased by 3.5% from 2021 to $1,175 in September, matching August’s level. With an increase of 4%, average weekly wages in the manufacturing sector surpassed the rise in the national average. Construction had a 5.7% increase to $1,457, and forestry and logging had a 9.7% increase to $1,412, respectively.
Inflation & Housing Prices
Regarding housing prices, inflation always has some connection with it. Since previous years, house prices have been increasing, and during a pandemic, they increased up to 50%. If inflation goes down to some extent, these housing prices can’t reach a reasonable level.
The inflation rate affects the housing market by causing property prices to rise or fall in conjunction with the cost of products and services. Inflation rises when the demand and supply balance disturbs. Hence, the price of properties may climb above where the average worth would be.
Check Out Canadian Economy Loses Jobs as Inflation Soars
It’s crucial to remember that there is a ratio between inflation and real estate costs. Buyers will only be able to qualify for mortgages if mortgage rates rise too high due to inflation, which would reduce demand. In this scenario, home values will drop.
What does inflation do with housing prices? Both have a strong relationship. But property prices should be controlled by up to 25%, whatever height the inflation touches. This must be done to make housing prices reasonable to several buyers. But 18% to 35% of researchers have a different opinion.
According to the survey’s overall prediction, typical home prices would increase by 11.8%in2022 relative to 2021. You’ll see a drop of 10% in 2023 and an increase of 1.3% in 2024. Guess what? It’ll exceed consumer prices.
Due to sellers’ hesitation to list in expectation of a spring market recovery and rising financing prices, housing starts dropped 11% in the last months of 2022. We all know about Vancouver and Toronto, the most enlightened cities yet the most expensive ones.
Toronto and Vancouver have had the highest price increases recently. These cities are expected to face a decline in housing prices of 11.0% and 9.3% in 2023, respectively, after soaring by as much as 58% and 35% since the epidemic began.
Summarizing:
The Canadian job market ends a solid year with yet another significant increase.
- In December, the Canadian job market gained 104k posts, with part-time work increasing by 19.5k and full-time employment increasing by 84.5k.
- To reach 5.0%, the unemployment rate decreased by 0.1% points. Encouraged the public to 65%. (up 0.2% points).
- There was a 35k increase in industry, employment, transportation, and distribution had a 29k increase, and communication, culture, and leisure had a 25k increase. The decline was observed in government welfare and medical services (-17k).
- The average hourly wages was up 0.1%, while monthly salaries were up 5.1% yearly as well.
How Is Inflation Connected To Canada’s Job Market?
Last year, there was a lot of discussion about inflation, which appears to be around for a while. Inflation is being caused by a perfect storm of factors, including:
- Quicker wage growth
- Higher savings rates
- Higher consumer spending
- A lack of commodities
- Predatory pricing
- Stresses in the service sector as people shift their spending from things to experiences in the wake of the epidemic
The Federal increased interest rates in response to growing inflation to decrease demand and restrain wage and price rise. In an ideal scenario, when supply and demand begin to balance again, rising interest rates would compel businesses to reduce their prices and shrink their profit margins.
Uncertainty surrounds the amount of Federal action required to bring inflation down without significantly weakening the employment market and sparking a downturn. The consequences of the events of 2020 and 2021 have made economists’ projections more unpredictable, making it more difficult to estimate how much time it will take to stop inflation.
The longer inflation hurts the economy, the greater the chance of a downturn, which will cause changes, including:
- less hiring
- More unemployment
- Slower factory output
- Stagnant housing market
We observe that the labor market will collapse if inflation isn’t factored in the upcoming months. Think about losses, greater unemployment, less hiring, fewer open positions, and even more work for those already overworked, stressed, and burned out.
It’s critical to remember that the jobless rate is now quite down, and job growth is strong. Unemployment and job growth will likely be impacted by ongoing inflation concerns, an impending recession, and general economic instability.
Resources To Help Get Jobs In Canada
We always call Canada a home of opportunities. You’ll see many people get benefits from these opportunities. But these are not offered in a dish in front of you. Instead of watching seasons on Netflix, invest your valuable time in finding a job in Canada.
Moreover, there will be more ease if you decide to explore while sitting at home before flying to Canada. Sometimes the tables turn over for you, and you get an option to immigrate to Canada while having a job letter from there.
Without any doubt, this is the best way of getting into Canada. But the issue is how to be aware of these sorts of jobs? The answer is always going to be networking, networking, and networking!
The major resource to get jobs in Canada is “reference.” If you have a relative or any friend in Canada working in a company, ask him to apply for your job in the same firm. Because most Canadian companies prefer referral jobs. So among so many job applications, your referred job request will be picked out.
The other resource to get a job is exploring online more and more. You have to invest your time in getting one. Be online most of the time to get positive results. Among marketing and online job postings, the following are the ways that you can consider a platform of jobs:
- Job Bank
- Employer canvassing
- Job agencies
- Job networking
- Online resources
Your likelihood of getting a request to submit an application for permanent residency will go up dramatically if you have a work offer from a Canadian employer.
Candidates that receive job offers using Express Entry are eligible to receive additional Comprehensive Ranking System (CRS) points. Many Provincial Nominee Programs (PNPs) connected with Express Entry need a job offer as a qualification.
You may use a variety of resources to look for work in Canada. You may find a job in Canada by using these. Among those efficient tools are:
Employment of Students
You can apply for student employment in Canada if you are looking for a job. Try looking up openings for student employment posted by the Canadian government and commercial businesses.
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Canadian Job Bank
Several companies use the Canada job bank (as their central bank) to recruit applicants for various positions. You may use it to look up jobs advertised by employers all around Canada. You may be matched with a position based on your qualifications and work history.
Jobs in the Canadian Government
To work in the government sector in Canada, you should look for positions with the Canadian government. Discover the most recent job openings with the Canadian government.
But what is the way to walk through? It’s an ideal resume. Try to design a very well resume, which must be readable. A unique cover letter and a resume can turn into the phrase “Congratulations! You are hired”.
Tips for Getting A Job in Canada
Planning, dedication, and consistency are necessary for successful job searching. Certain strategies and tactics will enable you to stick out to recruiters and hire managers when looking for work. We’ll go through the following useful suggestions to help you get your dream job.
Identify Your Objectives
Make sure you know what profession you want before looking for a job. Decide why it is vital to you to get a job in the first place. Finding out what chances to focus on is made easier by investigating your expertise, values, abilities, and successes.
In particular, if you’re changing fields or seeking entry-level work, get advice from instructors, reliable pals, family, and a career instructor. Your professional objectives should be relevant, explicit, quantifiable, and doable the night before going to bed.
Make A Job Search Plan
Make a plan for your job search after you are aware of your professional objectives. Make time in your calendar to seek work and develop a habit. Choose the number of hours you wish to spend looking for a job each day or each week. You may decide to dedicate two hours each day to job searching.
Periodic profile updates are part of planning your job hunt. Consider setting up another email address to separate business and personal emails. Finding employment that fascinates you might be facilitated by being aggressive in your job search. You’ll be prepared to apply for jobs immediately if you set out regular time for your job hunt.
Modify And Personalize Your Cover Letter And Resume
Examining resumes and cover letters helps recruitment agencies and interviewers identify individuals who have potential. To remain competitive in the market, make sure these papers are customized for the position you’re looking for.
Include your accomplishments, expertise, and capabilities. Make sure both texts are clear and simple to read. You may also find out the precise needs of potential employers by reading job descriptions.
Request feedback on your CV and cover letter from a career coach, dependable friend, colleague, or close relative. Additionally, you may employ professional resume services to create or modify your resume. Using a template, you may save time and customize both papers to the position you are applying for.
Ensure your resume is keyword-optimized to increase your chances of landing an interview.
Boost Your Internet Presence
Before selecting prospects to call for interviews, recruiters do web searches for candidates and review your resume and cover letter. Your chances of landing the desired job increase if you have a strong internet presence.
Consider signing up for corporate social networks, publishing information relevant to your industry, and leaving comments on articles that catch your attention.
Use A Variety Of Tools To Find A Job
Utilize other resources to aid your job hunt, even if manual web searches are crucial. You may contact prospective employers, go on social media, go to job fairs, or peruse job search engines. By signing up for job notifications, you may also locate the career you’re enthusiastic about.
Whatever your long-term professional objectives are, this practical job-hunting advice can help you get the desired position. Go ahead!
FAQs
Do You Need Help Finding A Job Right Now In Canada?
It’s challenging for immigrants to obtain work in Canada in general. Because Canadians want you to acquire Canadian job experience before being hired for a position.
We already know that Canada has recently been the finest choice for skilled individuals and experts searching for a wide range of career opportunities. Definitely, there is a need to have a prosperous future abroad.
All around the nation, there is a need for numerous qualified individuals. As a result, it provides the finest working setting and services for people searching for a job in Canada. Moreover, foreigners in Canada face a tougher employment market than anyone else, and this isn’t because there are not enough jobs or the economy needs to improve.
Outsiders and immigrants may find it difficult to get employment in Canada because of the widespread misconception that companies prefer to recruit applicants with prior Canadian job experience.
Then why is it becoming hard to get a job here? The answer is hidden here for you guys. Moreover, take tips and help from the reasons listed below:
A Field Where There Is More Demand Than Supply
Try to pick a profession where there is more demand than supply. Canadian firms are more inclined to recruit you if there is a pressing demand for employees and a need for qualified candidates. Remember making an application is a quick and reliable way to acquire a job.
Your CV Does Not Adhere To Canadian Standards
Be prepared to share!
The second reason is that, unfortunately, you won’t be able to find the job you want in Canada. You must be prepared to participate, which can mean accepting a different job than the one you had in mind. Make your heart bigger to do this!
In Canada, it’s common to see professionals with higher degrees, like doctors and lawyers, working in low-paying, moderate-skilled jobs.
No Canadian Work Experience
The phrase “You lack sufficient Canadian job experience” has been uttered by every immigrant to Canada.
But the reality is that Canadian businesses are conscious that immigrants need
more work experience there. When they refer to the “Canadian experience,” they mean that you know the country’s workplace environment and can adjust to your new coworkers.
Even though work entails less experience, Canadian employers prefer to hire people that put in a lot of effort, are willing to make extra efforts, and are keen to learn and adjust.
Moreover, try to indulge in Canadian native languages. If you know French and English well, you’ll be ready to easily acquire a job anywhere in Canada. And yes, always adopt a positive attitude!
Due to above reasons, you always demand some help in finding job in Canada. You can use following resources to do this task:
– Several research companies
– Visiting job fairs
– Browsing and networking
– Employment agency
– Job banks in Canada
– Getting information from any relative or friend already present there
What Is Canada’s Workforce Like?
On a global scale, rate of labor shortages in Canada is not so noticeable. Canada ranks second in North America for labor productivity among nations. This is due to the following:
– Positive macroeconomic results
– Corporate and government performance
– A powerful network
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According to data from the 2021 census issued by Statistics Canada, 57.5% of Canadians between the ages of 25 and 64 have a college degree or above, making Canada the G7 country with the highest educated labor force.
Moreover, the estimated size of the Canadian workforce from 2018 to 2028 was declared. In 2028, the workforce in Canada is predicted to be 20.4 million strong.
What Are Ontario’s Unemployment Rates?
In Ontario, there were 12.6 million persons who were 15 or older, of whom 8.2 million (64.8%) were employed in Nov 2022. Compared to October, there were no changes in the labor market in November.
Employment increased by 22,600 (0.3%) from October to 7.7 million (61.2%) people. In November, the unemployment level in Ontario dropped to 5.5% from 5.9% in October, and there were 452,100 jobless persons, a fall of 26,500 (or 5.5%) from October.
In Dec 2022, the unemployment rate in Ontario dropped to 5.30%. It’s a slight change, but no doubt, it’s a positive sign for Ontarians.
What Is The Main Industry That Canadians Are Employed In?
Mining, manufacturing, and real estate are Canada’s three main industries. In addition to these, in 2023, the following are the main industries that Canadians are employed in till now:
– Restaurants in Canada
– Hospitals
– Grocery shops
– Academic institutes
– Banking
– IT management
– Pharmacies
– Project management for engineers
Final Thoughts
Newbies to Canada, as well as Canadians, are in the hustle of getting a job. Employment and unemployment affect a lot on the Canadian job market. As you already have analyzed above, a relation exists between the prices of products and a nation’s economy.
So even a single person contributes a lot to the labor market. You can get more details about getting a job, creating a resume, and more on OnTheMoveCanada. Let us know if you have any queries regarding this guide. Good luck!