ISA Global

Canadian employment opportunities have not been falling behind ever since June recorded a slight recovery in the lagging statistics, however, the gains have not yet overcome the losses since the third wave struck.

The Labor Force Survey released by Statistics Canada published relevant data suggesting how employment last month amounted to about 231,000. This data and figures associated vouched to capture the Canadian labor market between the dates of 13th to 19th June.

Two months prior to these dates, the labor market’s job losses were calculated to be somewhere around 275,000. With the constantly projecting upwards trajectory, a sudden fall was observed between the months of November to January, leading to a downward spiral. After the March imposition of travel restrictions owing to the pandemic, the third wave spontaneously brought down employment rates in the months of April and May.

As the Canadian reference week started nearing, travel restrictions, rules and regulations began easing down. Amongst the total provinces, eight of them started resuming activities in centers for recreation, retail stores, restaurants, and bars as well as services catering to the public’s personal care amenities.

A classic example of this would be the lifting up of Ontario’s home quarantine rule on the 2nd of June, this year. The reference week witnessed the reopening of some outdoor dining areas as well as minor amounts of non-essential shopping sprees. However, that was not the scenario with regards to indoor dining, personal care entities, and gym zones.

Even though the province was bombarded with this collection of restrictions, Ontario was the only one to report employment growth prominently observed during June 2021. After it, others subsequently followed, like Nova Scotia, Quebec, and British Columbia.

June presented with Immigrant Employment

Compared to alternate employment rates, those for immigrants were comparatively slower. The rate was recorded at a mere 57% for those applicants who had been residing within Canada for the last 5 years when observed back in June. This same rate was recorded to be about 59% when checked last in February. In contrast to this, Canadian-born employees had a decent employment rate at about 60%, lesser than a single point when accumulated during the same duration.

Those recently immigrating within the country, that is, before prolongation of their five-year period, will have witnessed a higher employment rate. This is greatly accounted for by the gradual reduction observed in potential candidates owing to the COVID-19 induced fear and travel restrictions. As calculated three months back in June, the rate saw a tremendous fall of about 12% while employment rates were lowered to about 7%. Due to the vast distinction between employment and population rates, the former was observed to be as large as about 68% when checked back in June, four % points higher than previously recorded before the pandemic.

Gradual Economic Improvisation

In order to verify the Canadian employment rate, one needs to measure the total number of employed individuals as a percentage value of the above 15 years of age population group. To gain a deeper and core understanding of Canadian labor market assessments, one needs to delve into the correlation between population and employment rates.

A slight increase in the Maple country’s overall population was observed up to 1%, recorded at approximately 334,000 when checked between Feb 2020 to June 2021. To match up to this increasing feat, employment would have to projectedly rise to about 203,000, however, a steady drop was observed instead to about 340,000. About two percentage points of a decrease were calculated in June 2021 in comparison to the rates back in February, last year.