Over 100,000 New Jobs Are Added Across Canada
As the year comes to a close, the latest Labour Force Survey released by Statistics Canada has brought some exciting news for job seekers across the country. According to the survey, employment in Canada has risen by 0.5 percentage points over the month, with a total of 104,000 new jobs added. This has resulted in a national unemployment rate of 5.0%, a decrease of 0.1% from the previous month.
A Boost in Average Hourly Wages Across Canada:
Many immigrants come to Canada in search of better job opportunities and higher-paying, steadier employment. The Labour Force Survey for December 2022 shows that the average hourly wages of employees across Canada have remained above 5% for seven consecutive months, and have risen by 5.1% year-over-year. This is a positive trend that suggests that the job market is becoming more stable and secure for workers.
Private Sector at the Forefront of Canada's Job Boom:
In addition to the rise in average hourly wages, the survey also shows that private-sector employment is driving Canada's employment boom. The number of employees in private-sector jobs jumped by 112,000 in December, while self-employment and public-sector employment were relatively non-factors over the past month.
Opportunities for Workers of All Ages:
The survey also shows that employment outcomes have improved for several different age groups in Canada. The number of people aged 15 to 24 who had a job increased by 69,000 (+2.7%), while employment also increased for those 55 or older (+31,000 jobs). This indicates that job opportunities are opening up for a wide range of age groups, which is a positive trend for the country.
Growth Across a Variety of Industries:
The survey also looked at employment trends by industry. In the healthcare and social assistance industry, total employment fell by 17,000 jobs (a drop of 0.7%) over the month of December. However, employment has grown in several other industries, including construction, transportation and warehousing, information, culture and recreation, professional, scientific, and technical services, accommodation and food services, public administration, and "other services.
Provincial Breakdown of Job Growth:
In terms of employment trends by province and territory, the survey shows that employment increased in six different provinces: Ontario, Alberta, British Columbia, Manitoba, Newfoundland and Labrador, and Saskatchewan. In Ontario, employment rose by 42,000 jobs (+0.5%) in December, while unemployment dropped to 5.3%. In Alberta, employment rose by 25,000 jobs (+1.0%), with an overall increase of 3.9% and a decrease of 1.7% in the unemployment rate.
A Promising Outlook for Canada's Job Market:
Overall, the Labour Force Survey for December 2022 shows that the job market in Canada is healthy and growing. With over 100,000 new jobs added across the country, it appears that the country is on the path to economic recovery. The survey also indicates that the job market is becoming more stable, with higher-paying, steadier employment becoming more widely available. As a result, the outlook for the Canadian job market is positive, and it is expected that this trend will continue in the coming years.
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