Job statistics in Canada
Canada’s economy has been deeply affected by the COVID-19 pandemic. The employment rate at some point at the middle of global quarantine fell to 58% which is the lowest number in the last decade. Yet, official data indicates that in 2021, progress is taking place. In the July of 2021, employment was almost 60.5%, the most since the beginning of the pandemic. Minimum wages for a worker has been increased from 14.25 CAD/hour to 14.35 CAD/hour. the youth unemployment rate is reduced by about 2%. Retirement age for both men and women has been stabled in 65.
Yet, COVID has had its impacts on the job market. More than 94 thousand people have been forced to change their jobs which is a lot more than before. The average Wage has decreased from 27.63 CAD/hour to 27.40 CAD/hour. Wages in manufacturing has also been reduced. Employment is still 3% below the pre-pandemic era.
Despite all issues, there are obvious signals to be optimistic. The Canadian economy added 230,700 jobs in June and 94,000 jobs in July. Economists expect a rush of hiring in 2022.