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May Jobs Report: Canadian Unemployment at Historic Low

Statistics Canada has released the monthly Jobs Report for May 2019! This report follows a monumental job growth of over 100,000 jobs added in the month of April. Following last month’s job boom, it’s no surprise that the unemployment level in Canada has dropped to a record low of 5.4%

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Employment in May saw an increase of 27,000 Canadian jobs added. This month’s report reinforces the steady job growth the Canadian market has been experiencing in recent years. With more than one million jobs added since 2015, Canada has become one of the fastest growing economies among G7 countries.

Canada’s aging working population and relatively low birth rate mean the Canadian workforce is struggling to fill jobs left by those entering retirement. Attracting skilled foreign talent to Canada’s workforce has been a key factor in motivating the country’s fast and efficient immigration system for economic immigrants.

What did employment growth look like in May?

Employment grew in Ontario, British Columbia, Nova Scotia and New Brunswick. The majority of jobs added were in health care and social assistance, professional, scientific and technical services, as well as transportation and warehousing.

20,000 more people gained jobs in healthcare and social assistance, and employment in tech was up 17,000 jobs.The majority of job growth was in full-time, long-term work, and driven by the provinces of Ontario and British Columbia.

The rise in jobs added in both healthcare and tech align with an increase in Canadian Provincial Nominee Programs creating immigration streams designed to draw workers with experience in these in-demand sectors. We can look to Nova Scotia’s Demand: Express Entry Category B stream, and the recently announced Ontario Immigrant Nominee Program stream for tech workers as examples.

Lowest Unemployment Rate in 43 Years

May’s unemployment rate dropped 0.3% to a record low of 5.4%. The number of people looking for work in Canada decreased sharply last month, to the lowest it has been since 1976! Jobs in Canada are holding steady each month, meaning less people are struggling to find long-term, skilled work. For newcomers to Canada interested in the Federal Express Entry system, this is excellent news!

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