The economy in Canada was boosted by another month of job increases, bringing the unemployment rate to an after-pandemic low
The additional 31,000 Canadian jobs brought the unemployment rate to 6.7 percent, for the fifth consecutive monthly decline. There are currently less than 200,000 available workers which makes a difficult challenge in filling the 900,000 job vacancies, according to a senior director at the Canadian Chamber of Commerce. Added jobs in October 2021 were across various industries, including retail which was the hardest hit. The industry is back at pre-pandemic numbers for the first time in seven months.
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Canadian Market is Recuperating
According to Statistics Canada, 50 percent of the workers who were without a job between August and October returned, with the others switching industries. Across the Canadian job market, seven out of ten unemployed persons who returned to work within one year stayed in the same industry. A senior economist with the Labor Market Information Council said the latest reports show no signs of a “great resignation,” but more industry-specific problems, like in accommodation and food services. There are many opportunities for you and your family in Canada. The country welcomes newcomers with open arms and provides support.
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