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Canada Experiencing Lowest Rate of Unemployment in the Country Since the Past 10 Years!

Wed, Mar 28 2018

Canada Experiencing Lowest Rate of Unemployment in the Country Since the Past 10 Years!

According to a Canadian labour force survey report, Canada’s unemployment rate dropped to bottom-most in nearly a decade. Last November, Canada’s unemployment rate was 5.9 percent which was this low in February 2008. Post the month of November, additional 80,000 new Jobs were created across Canada out of which majority are full-time jobs.

Speaking demographically, the age groups which are benefitted most from the employment increase were men in the 25 to 54 core-aged group, youths aged 15 to 24 and women aged 55 and older.

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Speaking province wise, Ontario, British Columbia, Quebec and Prince Edward Island saw major rise in employment opportunities.

Ontario on the top among these has 44,000 new jobs created in November.

British Columbia secured second position in employment generation in November, gaining 18,000 jobs, majority of them full-time. With 4.8 percent, British Columbia’s unemployment rate was the lowermost in Canada for the month of November.

Quebec’ssupplementary Jobs were 16,000 in the month of November, mounting its employment rate for the second consecutive month.

Most of the jobs created in the above mentioned provinces were from wholesale and retail sector, manufacturing and construction sector. The rate of unemployment in Quebec as recorded for November was at 5.4 percent, which was lowest recorded since January 1976.

 

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