The number of vacancies in Canada has gone up. This is not because new jobs have been created, but because about 20,000 people have quit the active workforce. They are not likely to return to the workforce either. Therefore, the jobless rate has dipped slightly.
Over the last couple of months, a total of 1,04,000 jobs were lost in total. That is why, despite large-scale hiring in September 2022, October is witnessing far lesser people in active jobs than about four months ago.
The maximum hiring happened in the education and healthcare sectors, while jobs were lost in the warehousing, transportation and manufacturing space.
While the demand for workers in construction appears robust, the sector lost about 3,330 jobs during September.
The average wage per hour has also increased, to $31.67. Last year, it was 5.2 per cent lesser.
Wages in scientific, technical and professional industries has gone up by 9.1 per cent on average, over the last one year.
In the finance, insurance and real-estate sectors, the average remuneration rose by only about 2.4 per cent say media reports.
Reuters reported last week that Canada has lifted the 20-hour-a-week limit on the number of hours that international students are allowed to work outside their campus. This is a measure to combat labour shortage. This new policy will be applicable to full-time students only, starting 15 November 2022 till end of 2023.
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