According to Statistics Canada, the unemployment rate in Canada fell 0.1% to 8.9% in the previous month. On the other hand, the Canadian labor sector added additional 84,00 jobs in the month of October, this rate is quite slower than the growth rate of the previous month. Whereas, between August and September, 378,200 jobs were added in Canada’s labor sector. Due to the increased cases in October, the restrictions were imposed again which also led the slow employment growth. In that time, minor changes were seen in the unemployment rate compared to September.
In the month of October, the unemployment rate in Canada was 8.9% compared to 9.0% before that month. The survey also stated that since the start of COVID-19, for the first time the self-employed workers were increased by several 33,000.
Labor market conditions in provinces of Canada:
The following provinces of Canada observed an increase in employment in the month of October: Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Prince Edward Island. Other Canadian provinces saw little change in employment rates.
In British Columbia, 34,000 full-time jobs were gained. In Ontario, 31,000 new jobs were created in October. In Alberta, 23,000 jobs were added in October, this led to an increase in the employment rate in Alberta after the 5th consecutive month. The employment in Newfoundland and Labrador was increased by 5,900 in October, and in Prince Edward Island by 900.
Increases in Industries:
Various surveys also indicated that while there was an increase in jobs in the industrial sector, but on the other hand, there was a loss of 48,000 jobs in accommodation and food services, mainly in Quebec. The industries of information, culture, and recreation also suffered essential declines in employment in Quebec, Alberta, and Saskatchewan. The employment in transportation, warehousing, and construction sectors stayed unchanged in October. Though, occupations in wholesale trade, professional, scientific, and technical services, and in educational services were also increased and even exceeded pre-pandemic levels. The analytics from Statistics Canada’s Labour Force Survey has provided important insights that suggest the post-recovery effects of Covid-19.