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Strong Employment Boosts Wages in Canada

Employment Boosts Wages

Employment Boosts Wages: There is a good sign that Canada’s employment improved in November 2022, with wage employment (the number of workers receiving wages or benefits from an employer) increasing in 10 of 15 sectors. It’s a good sign that the Canadian economy is returning to pre-Covid levels. This led to an increase in jobs in many industries as employers were able to fill vacancies more efficiently, which alleviated the looming labour shortage and led to fewer vacancies.

Despite growth in professional scientific and technical services, public administration, financial and insurance sectors, and retail trade, payroll increased by a total of 7,100 jobs. In November 2022. There were 20,700 fewer jobs in Canada, resulting in a decrease of 850,300 vacancies. This represents a decrease of 151,900 vacancies from May 2022, which was a record 1 million vacancies. This shows that the economy continues to recover to pre-pandemic levels in terms of economic production of goods and services.

As an indicator of economic growth, the increase in wage employment (more precisely) is a good indicator that companies are hiring and need more employees. More and more people can participate in the economy thanks to the increase in wage employment.

To better understand what types of companies are hiring in Canada, newcomers may find it useful to understand which sectors are currently experiencing wage growth. As a result of the increase in wage employment, the following economic sectors achieved the greatest growth in November: Science and technology (5600 jobs); Public sector (800 jobs); Financial sector (700 jobs); , Construction (300 jobs) , Vacancies in November 2022, Canada continued to have a large number of jobs in several sectors despite strong wage growth. There is a persistent shortage of health workers in Canada’s health and social services (131,800 vacancies).

Despite the decrease in the number of vacancies in the country by 19,300 jobs. The total number of vacancies remains high, almost 5% higher than in March 2020. This need for space workers is further fuelled by policy changes made by the Canadian government. Including greater accreditation of foreign-educated health workers and lowering barriers to medical immigration.

It is interesting to note that there are still quite a few vacancies in the construction sector (79,000). Despite the strong increase in wage employment in November, there are still many vacancies in the construction sector. It is possible that this indicates the growth of the production of companies. Also the constant need for work in the region. It is important to note that the number of unfilled jobs in the construction sector remained almost unchanged at 73,900 in November 2021. Suggesting that this is another sector where Canada continues to need work, especially as the economy recovers.

Continues The importance of such work to the national economy is again clearly demonstrated by Canada’s recent announcement. That it plans to assist out-of-status construction workers. Professional, scientific and technical services (52,000 vacancies), like the construction sector. Have seen strong employment growth in recent years, but the increase in the number of vacancies has also suffered. Last year This indicates strong employment in Canada and continued demand.

Despite the large number of vacancies, this strongly indicates long-term demand for these workers in Canada. Current data cannot fill Canada’s current job openings, so immigration is critical.

With the passage of Bill C-19 in 2022. The Honourable Sean Fraser will be able to create groups in the Express Entry and issue invitations to apply (ITA) to these persons. It is likely that these draws will target occupations that still have vacancies.


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