Statistics Canada has released the Labour Force Survey data for October 2022. In general, the rate of employment has recovered from increases from May-September. However, it is still consistent with September at 5.2%.
The major gains in employment were in accommodation, construction, food services, and manufacturing. Employment, on the other hand, decreased in retail and wholesale trade and in natural resources as well. The majority of new jobs were within the private sector. It is the first time the private sector has seen an increase in employment since March 2022.
Immigrants are Successful at Finding Employment
The release of the 2021 census data on immigration displayed that 23% of the population in the country is an immigrant. The census defined immigrants as individuals who are or have been permanent residents or landed immigrants.
The survey gives the idea that immigrants have succeeded at finding employment and filling some gaps in the labour force of Canada as well. Just above 62% of immigrants aged 15 and above are employed. Also, it was found that immigrants who arrived in Canada over the past five years had a rate of employment of 70.7%. It is the rate that was higher than in October 2019 before the pandemic.
Most New Jobs Are Full-Time
The employment gain in October was completely witnessed in full-time work (there were reductions in part-time employment). However, full-time employment gains made up for the total losses). There were 119,000 full-time positions filled, giving a boost to the rate of full-time employment by 3% over October 2021.
The rate of part-time employment has remained constant. But the fact is there has been a shift over the last year. Men have been more likely to find a full-time job compared to women, which experienced a growth rate of 3.9% while the increase is at 1.9% for women.
The women’s rate of part-time employment has increased by 5.7% since last October.
Employment rises for both men and women occurred primarily in the core working age group of 25-54 years old. But men of core working age gained rather more full-time work between September and October this year. For men, it was 0.7% men and 0.4% for women.
Young women in the 15-24 years age category have witnessed a drop in their employment rate, down 1.7% from September and landing at a total rate of unemployment at 10.5%.
Increases for the Top 25% of Wage Earners
Wages above all sectors were up an average of 5.6% since October last year. The report states that 6 in 10 employees who were with their employer for no less than one year had received an increase over the last year.
The survey found that 64.3% of employees with wages more than $40 an hour had received a raise. However, only 50% of employees received an increase if they made under $20.
Employment is up in Six Provinces
The majority of new employment occurred in provinces, including Prince Edward Island, Quebec, Ontario, Newfoundland and Labrador, Saskatchewan, and Manitoba.
Prince Edward Island observed considerable gains in employment in the work of Hurricane Fiona, causing significant damage to the province. Employment was enhanced by 4,300 positions.
The province of Quebec showed some considerable growth with 28,000 positions being filled. Overall, gains were primarily full-time and within real estate, insurance, leasing, construction, finance, and rental. Quebec has an unemployment rate of 4.1%.
Ontario province had the largest rise in employment with 43,000 positions filled, mostly in part-time work. The biggest gains were within the accommodation, food, and scientific, professional, and technical services sectors. The overall rate of unemployment is constant with September at 5.9%.
