Unemployment rate in Canada declined to 5.1%

Highlights

• Unemployment rate reduced to 5.1%
• Number of jobs increased in May up to 39,800
• Number of people employed last month for full time work is more than 135,000

*Check your eligibility through Y-Axis Canada Immigration Points Calculator.

The unemployment rate in Canada has set a new record of going down up to 5.1 percent. The report of the survey conducted by Statistics Canada has the number of jobs in May increased up to 39,800. The number of people employed in May is more than 135,000. Women workers of all age groups also got the jobs and started to work in Canada.

Also read...

16 new occupations added to Canada Express Entry NOC list

Record-Breaking job vacancies in Q4, Canada looking to fill 9.2 lakh jobs

Statistics Canada: Job Vacancy & Wage Survey

The Statistics Canada’s Job Vacancy and Wage Survey has revealed that the ratio of unemployed people and job vacancies in March was 1:2. This led the employers to attract and retain more and more employees who can migrate to Canada and work.

Job market in Canada

The employers in Canada are unable to find employees for different positions. The number of aging and retiring people is increasing. Due to this, the rate of unemployment is decreasing. This is a good news for job seekers but businesses will have a tough time in finding the correct employees for different job positions.

It can be said that the labour shortage will increase. There are some people who are not participating actively in the labour force but want to continue their work. The number of such people is 409,000. But the number of jobs in Canada has increased up to 1 million.

Canada Immigration Level Plan, 2022

Canada has plans to welcome more and more people in 2022. The target is set up to 431,645 new permanent residents in the first quarter of 2022.

Also read...

Canada has a million job vacancies to fill as on April 2022

Canada plans to invite 500,000 permanent residents this summer

Canada has already welcomed 114,000 permanent residents and is on its way to meet the target.

Willing to migrate to Canada? Talk to Y-Axis, the world’s no. 1 overseas immigration consultant.

Also Read: Canada to open online citizenship applications for multiple adults