Canada’s unemployment rate has fallen to 5.1 per cent and there are more jobs on offer that in the past. In fact, the ratio of unemployment to job vacancy is 1:1. Last year, it was 2:4.
Over a million vacancies were up for grabs in May 2022. That means there are chances of a labour shortage in the future. Maximum jobs were available in Nova Scotia and Manitoba.
The demand for labour, in total, touched almost 17.5 million, including the filled and vacant posts. This is 8.5 per cent more than the same time last year.
The maximum job opportunities exist in the healthcare and social assistance space, where the vacancies increased 14.5 per cent. There were more than 1.4 lakh jobs available in this sector in May 2022.
In the retail space, there were over 99,000 jobs available, whereas the manufacturing space had over 86,000 jobs on offer. About 84,000 vacancies existed in construction, while 51,000 were available in transportation and warehousing.
It is reported that almost five million people will retire in Canada by 2030. Therefore, the demand for immigrants will rise. And Canada is anyway known to be a very immigrant-friendly country.
The country is reportedly expecting over 4.3 lakh immigrants this year. Quebec, Saskatoon, Halifax, Ottawa, Calgary, Abbotsford, Toronto, Brantford, Victoria, and Kelowna are some of the cities that has jobs on offer under the Express Entry system.