Employment Increase in October
Several industries showed employment increases in October, with the largest being real estate and finance. Other industries showing strong gains were in accommodation and food services, and professional and business services. However, manufacturing saw a decline. The number of people working in wholesale and retail trade declined by 20,000. Other sectors showing little change were education and health services, information, and government.
Part-time work remained relatively steady for the fifth consecutive month. The share of workers who usually work from home decreased by 8.5 percentage points. Overall, employment grew for both men and women in the core working ages of 25 to 54. In addition, the employment rate for recent immigrants rose to 70.7% in October, the highest since 2006. This suggests that immigrants have succeeded in finding employment.
In October, 고용증대 세액공제 employment for young men and young women was virtually unchanged. Similarly, the unemployment rate for both groups remained at the pre-pandemic February 2020 level. For older adults, employment was little changed for the third month in a row. The unemployment rate for young women, however, rose 1.7 percentage points to 10.5%. The unemployment rate for men remained at 4.6%. The jobless rate for women aged 55 and older was 4.7%, down from 4.5 percent in September.
The number of Canadians living in
The number of Canadians living in households citing difficulty meeting their financial needs was one in three (15%) in October. Compared to 12 months earlier, the October total was a slight increase. This means that the demand for healthcare is still on track, but productivity is likely to be reduced.
The most extensive employment increase in October was in Manitoba. The province added 4,600 jobs, or 0.6%. During the month, the unemployment rate in Manitoba remained at a steady 4.3 percent.
The province’s labour force participation rate also remained at a steady 9.2%. In terms of industry, employment increased in mining and logging and construction (+9,800), manufacturing (+1,800), and trade, transportation, and utilities (+5,700). In other industries, employment increased in professional and business services (+4,000), leisure and hospitality (+4,800), educational and health services (+6,100), and “other” services (+2,400).
While the pace of employment growth is determined by various factors, most of the monthly gains will be full-time jobs. The increase in full-time employment brought employment back to the level it had reached in May 2022. The CBO expected the overall employment level in 2021 to be equivalent to the January 2020 projection of employment in 2021 Q4.
Employment Increase
Employment for young women and men was nearly the same in October as it was a year ago. The increase in employment for both groups more than offset the drop in part-time work. The employment rate for young women and men was 6.7 and 4.5 percentage points higher, respectively, than the level before the pandemic.
위드택스 Employment in Quebec climbed by 28,000 in October, the second consecutive month of positive gains. The unemployment rate for Quebec residents declined to 4.1%, from 3.7% in September. The employment rate among young men and women remained at a ten-month high, and the unemployment rate for men and women aged 55 and over held at the same level.