The Unemployment Rate in Canada Has Never Been This Low

CVE - Canadian Visa Expert

The unemployment rate in Canada hit an all-time low after Omicron’s breakout in early 2022. Unfortunately, this situation gave rise to a jobless rate of 5.3 percent; an unemployment rate experienced last in 1976.

According to the Canadian Visa Expert, more jobs have been added to the economy to push down the unemployment rate. In April, about 15,300 jobs were created, with more jobs expected to be added as the year progresses.

The low unemployment rate in Canada comes from about 27,000 job losses experienced in Quebec. In contrast, several other regions, such as Alberta and the Atlantic provinces, have been responsible for the significant job gains experienced recently in the country.

Change in job patterns with a notable rise in wages on the wage scale

A striking new pattern is unfolding between full-time and part-time jobs to corroborate the current Canadian economic instability. The Canadian Visa Expert could confirm that over 47,000 part-time jobs have replaced about 30,000 full-time jobs, although with a significant wage rise.

Today, only about 24.5% of Canadian workers earn $40-and-above per hour, while only roughly 26% earn $20-and-below per hour. In 2018, about 40% of Canadian workers earned less than $20 an hour, while only roughly 15% earned more than $40 per hour.

Evidently, Canadian wages are rising on the wage scale compared to the pre-covid era.