Are you interested in the latest job market statistics in Canada? In March, the employment rate increased by 35,000 (0.2%), with the unemployment rate remaining at 5.0%. This update provides valuable insights into the state of the Canadian job market, highlighting trends and developments across various industries and demographic groups.
Key Takeaways:
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Employment in Canada grew by 35,000 (0.2%) in March, with notable job gains in transportation and warehousing, business support services, and finance and insurance.
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The number of employees increased in the private sector, while public sector employment and self-employment remained relatively unchanged.
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Ontario, Alberta, Manitoba, and Prince Edward Island experienced increased employment, while Saskatchewan saw a decrease.
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The total hours worked rose by 0.4%, and average hourly wages increased by 5.3% on a year-over-year basis.
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The unemployment rate held steady at 5.0%, just above the record low observed in June and July 2022.
Employment Trends in Canada
In the ever-evolving job market of Canada, employment trends have been on a positive trajectory since the fall of 2022. As of March 2023, there was a notable increase in employment by 35,000 (0.2%) following a period of minimal change in February. This growth marked the fourth consecutive month of employment increase, demonstrating a stable and progressive trend in the Canadian job market.
Since September 2022, the number of individuals employed in Canada has risen by 383,000 (1.9%), showcasing a steady upward movement in the employment rate. The bulk of the employment gains in March were observed in the private sector, indicating a robust performance in various industries. Conversely, the number of public sector employees and self-employed workers experienced minimal change.
These employment trends are a promising reflection of the economic landscape in Canada, with consistent growth in job opportunities for individuals seeking employment. The steady rise in employment highlights the resilience and adaptability of the Canadian job market, providing ample opportunities for both job seekers and those looking to advance their careers. As the Canadian economy continues to recover, these employment trends serve as a positive indicator of its overall health and stability.
Industries Driving Employment Growth
In March, there was substantial employment growth in various industries in Canada, contributing to the overall increase in employment. The transportation and warehousing industry experienced a significant surge in employment, adding 41,000 jobs, representing a growth of 4.2%.
This industry, which had previously seen a decline in employment from February 2022 to January 2023, rebounded strongly in March. This growth is indicative of the sector’s resilience and its importance in supporting the Canadian economy.
Furthermore, the business support services industry saw notable job gains, adding 31,000 positions. This industry plays a crucial role in providing essential administrative and support services to businesses across various sectors, contributing to their efficiency and productivity.
Another industry that contributed to employment growth in March was finance and insurance, which saw an increase of 19,000 jobs. This industry plays a fundamental role in providing financial services and risk management solutions, supporting businesses and individuals in navigating the financial landscape.
However, it is worth noting that the construction industry experienced a decline of 19,000 jobs in March, while the natural resources industry saw a decrease of 11,000 jobs. These declines could be attributed to various factors, including seasonal fluctuations and market dynamics.
Despite these declines, other industries, such as health care and social assistance, as well as professional, scientific, and technical services remained relatively stable, highlighting their resilience and importance in providing essential services to Canadians.
Employment Rates by Gender and Age
In March, the employment landscape in Canada witnessed a slight increase in employment among men, with an additional **22,000** individuals finding employment, representing a **0.2%** increase. Conversely, employment among women remained relatively unchanged during the same period. However, looking at the bigger picture, overall employment rates for both genders have shown an upward trend, indicating a positive outlook for the job market in Canada.
One notable finding is the decrease in employment rates for women aged 55 to 64. This age group experienced a **0.8%** decline in employment rates in March, partially offsetting the gains from the previous month. Nevertheless, the overall employment rates for women of all age groups remain steady, suggesting continued opportunities for women in the workforce.
For core-aged women, specifically those between the ages of 25 and 54, employment rates remain at or near record highs. This age group has seen a slight increase in employment rates, particularly for those with the youngest child under 6 years old. These findings indicate that policies and initiatives supporting working parents are contributing to increased employment opportunities for this demographic.
The employment rate for youth, aged 15 to 24, remained steady in March, with **57,000** more young people finding employment compared to the previous year. This suggests a stable job market for young Canadians, with ample opportunities for them to gain valuable work experience and contribute to the economy.
| Age Group | Employment Rate |
|---|---|
| Men | **0.2%** increase |
| Women | Relatively unchanged |
| Women (55-64) | **0.8%** decrease |
| Core-Aged Women (25-54) | Near record highs |
| Youth (15-24) | Steady with **57,000** more employed |
Unemployment Rates in Canada
In March, the unemployment rate in Canada remained steady at 5.0%. This rate is slightly above the record low of 4.9% observed in June and July 2022. It is worth noting that most of the unemployed individuals in March had been without a job for 13 weeks or less. Additionally, the long-term unemployed, defined as those jobless for 27 weeks or more, accounted for 16.0% of the unemployed population, marking a decrease from 20.3% compared to the previous year.
The unemployment rate for male youth dropped to 9.9%, while the rate for female youth was 8.5%. Meanwhile, the unemployment rates for core-aged women and men remained near historical lows. This data reflects the ongoing resilience of the Canadian labor market, with steady unemployment rates and a focus on addressing youth unemployment and long-term joblessness.
| Unemployment Rates | March 2023 |
|---|---|
| Total Unemployment Rate | 5.0% |
| Male Youth Unemployment Rate | 9.9% |
| Female Youth Unemployment Rate | 8.5% |
| Core-Aged Women Unemployment Rate | Near Historical Lows |
| Core-Aged Men Unemployment Rate | Near Historical Lows |
Wage Growth in Canada
The Canadian job market has not only witnessed positive employment trends but also experienced significant wage growth. In March, average hourly wages in Canada rose by 5.3% on a year-over-year basis, reaching $33.12. This increase in wages demonstrates the country’s commitment to fair compensation and reflects the improving economic conditions.
Wage growth has been consistent across genders, benefiting both men and women in the workforce. This inclusivity highlights Canada’s dedication to gender equality and ensuring equitable remuneration for all workers.
Among different industries, the professional, scientific, and technical services sector stood out with substantial wage growth of 7.5% over the past year. This growth indicates the industry’s value and the demand for skilled professionals in fields such as consulting, engineering, and research and development.
When examining wage growth by province, Prince Edward Island, New Brunswick, and Quebec experienced the highest year-over-year increases, symbolizing strong economic performance and opportunities for workers in these regions. However, Manitoba and Alberta had comparatively lower wage growth rates, suggesting potential challenges in these provinces that may require further attention and support.
| Province | Year-over-Year Wage Growth (%) |
|---|---|
| Prince Edward Island | 9.2 |
| New Brunswick | 8.6 |
| Quebec | 7.8 |
| Manitoba | 4.2 |
| Alberta | 3.9 |
These wage growth statistics indicate a positive trend in the Canadian job market, with the potential for greater financial stability and increased purchasing power for workers across the country. As wages continue to rise, it is essential for policymakers, employers, and organizations to prioritize fair compensation and ensure that the benefits of economic growth are shared equitably.
Provincial Employment Trends
In March, employment trends varied across different provinces in Canada. Ontario, Manitoba, Alberta, and Prince Edward Island experienced increases in employment, while Saskatchewan saw a decline. Quebec’s employment remained relatively unchanged.
Ontario: The province of Ontario witnessed a significant increase in employment, with 21,000 new jobs created in March. This brings the cumulative gains since September 2022 to 172,000 jobs. The job market in Ontario continues to show resilience and growth.
Manitoba: Manitoba experienced its second consecutive monthly employment gain, adding 3,300 jobs in March. This positive trend indicates a strengthening labor market and reflects the province’s efforts to promote economic growth and job creation.
Alberta: Employment in Alberta rose by 14,000, marking the third increase in the past four months. This growth is a positive sign for the province, which has been recovering from the impacts of the COVID-19 pandemic. The job market in Alberta continues to show signs of stability and improvement.
Prince Edward Island: Prince Edward Island saw a growth in employment of 2.0% in March. While modest, this increase indicates a positive trajectory for the province’s job market. Prince Edward Island’s efforts to diversify its economy and attract new industries are contributing to employment growth.
Saskatchewan: On the other hand, Saskatchewan experienced a decline in employment, losing 4,300 jobs in March. This decrease may be attributed to various factors, such as industry-specific challenges or temporary fluctuations in the labor market.
Overall, the provincial employment trends in Canada reflect a diverse landscape, with some provinces experiencing growth and others facing challenges. Understanding these trends can provide valuable insights into the regional dynamics of the job market and guide policymakers and stakeholders in making informed decisions.
Impact of COVID-19 on the Labour Market
Over the past six months, Canada’s labour market has undergone significant changes as a result of the COVID-19 pandemic. The easing of public health restrictions, coupled with high job vacancies and supply chain disruptions, has shaped the employment landscape in the country.
Since September 2021, employment in Canada has seen a notable increase of 463,000 (2.4%). Several sectors have experienced significant gains, including retail trade, construction, health care and social assistance, and information, culture, and recreation. These industries have adapted to the challenges posed by the pandemic, demonstrating resilience and growth.
However, the rapid growth in employment has outpaced population growth, leading to potential imbalances between labour supply and demand. This dynamic has significant implications for both employers and job seekers, as the labour market seeks to meet the evolving needs of the Canadian economy.
The COVID-19 pandemic has also had varying impacts on different demographic groups within the labour market. Notably, older women and core-aged men have experienced notable job gains in March, reflecting the shifting dynamics and opportunities in the workforce.
The impact of the COVID-19 pandemic on the labour market in Canada has been far-reaching. It has created both challenges and opportunities, requiring adaptability and resilience from individuals and businesses alike.
Impact of COVID-19 on the Labour Market: Summary
The COVID-19 pandemic has had a significant impact on the labour market in Canada. Employment has shown positive growth, particularly in sectors such as retail trade, construction, health care and social assistance, and information, culture, and recreation. However, this growth has outpaced population growth, leading to potential imbalances. The pandemic has also influenced employment trends among different demographic groups, with older women and core-aged men experiencing notable job gains. As the labour market continues to adapt to the challenges and opportunities brought by the pandemic, a balanced approach is essential to ensure long-term sustainability and prosperity.
| Key Points | Implications |
|---|---|
| Employment growth | Positive outlook for the economy and job creation |
| Imbalances between labour supply and demand | Opportunities for job seekers, but challenges for employers in finding the right talent |
| Differential impact on demographic groups | Insights into the evolving dynamics of the labour market |
| Adaptability and resilience | Key attributes for individuals and businesses navigating the changing labour market |
Hybrid Work Arrangements
As public health restrictions ease and businesses make plans for workers to return to in-person work, the way we work is evolving. While the proportion of workers exclusively working from home is declining, there is a growing trend towards hybrid work arrangements.
In March, 20.7% of workers in Canada reported working exclusively from home, a decrease of 1.8 percentage points from the previous month. However, 5.9% of workers reported working part of the week from home and part from a location outside the home, embracing the flexibility of hybrid work arrangements.
This shift is particularly pronounced in the professional, scientific, and technical services industry, where remote work has become more common. This industry has recognized the benefits of allowing employees to work from different locations, balancing productivity with personal preferences and work-life integration.
Benefits of Hybrid Work Arrangements
Hybrid work arrangements offer numerous benefits to both employees and employers:
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Flexibility: Hybrid work arrangements allow employees to have a more flexible work schedule, balancing their professional and personal lives more effectively.
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Increased productivity: Studies have shown that employees who have the option to work remotely can be more productive and focused on their tasks.
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Reduced commuting time and costs: By working from home part of the week, employees can save time and money on commuting, contributing to a better work-life balance.
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Improved job satisfaction: The ability to choose where and how to work can contribute to higher job satisfaction and employee morale.
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Expanded talent pool: Hybrid work arrangements open up opportunities for companies to hire talent from different locations, increasing diversity and access to a wider range of skills.
These benefits have made hybrid work arrangements an attractive option for both employees and employers, fostering a more adaptable and inclusive work environment.
Hybrid work arrangements offer flexibility, productivity, and improved work-life balance. They are becoming increasingly popular in the professional, scientific, and technical services industry and beyond.
| Industry | Percentage of Workers Employed in Hybrid Work Arrangements |
|---|---|
| Professional, Scientific, and Technical Services | 12.3% |
| Finance and Insurance | 7.6% |
| Information and Communication Technologies | 4.8% |
| Education | 4.2% |
Table: Percentage of workers employed in hybrid work arrangements by industry
It is important for organizations to explore ways to support and integrate hybrid work arrangements effectively. This may include implementing technology solutions for remote collaboration, establishing guidelines for communication and task management, and providing the necessary infrastructure for remote work.
As hybrid work arrangements become more prevalent, they have the potential to reshape the traditional office environment and redefine the way we work, ultimately leading to a more flexible and adaptable future of work in Canada.
Self-Employment Trends
Total self-employment in Canada showed little change in March, remaining below pre-COVID levels. Since March 2021, there has been no significant monthly growth in self-employment. However, recent data indicates a potential recovery in self-employment among men, particularly in the professional, scientific, and technical services industry. In March, the number of self-employed men without employees increased by 3.2% compared to the previous year.
This trend suggests that some individuals are opting for self-employment as a career pathway, leveraging their skills and expertise in specific industries. Despite the challenges posed by the pandemic, self-employment remains an avenue for economic independence and flexibility in Canada.
Self-Employment Statistics for March
| Category | Percentage Change |
|---|---|
| Self-employed men without employees | +3.2% |
Source: Statistics Canada
Record-Low Unemployment Rate
In March, Canada achieved a historic milestone in its job market with a record-low unemployment rate of 5.3%. This remarkable figure, the lowest recorded since 1976, surpasses the previous record low of 5.4% observed in May 2019. The decline in the unemployment rate reflects the ongoing tightening of labor market conditions in the country.
The adjusted unemployment rate, which includes individuals who desired employment but did not actively search for jobs, also dropped below its pre-pandemic level to 7.2%. This further emphasizes the positive trend and favorable situation in the labor market. These encouraging indicators signify a robust job market in Canada, with opportunities and prospects for individuals seeking employment.
Labour Market Participation Rate
The labour market participation rate in Canada plays a crucial role in understanding the dynamics of the job market. This rate, which includes the employed and unemployed population aged 15 and older, was 65.4% in March. It provides insights into the overall activity in the labour market and reflects the balance between labour supply and demand.
Since September 2021, the labour market participation rate has remained relatively stable, hovering around the pre-COVID level observed in February 2020. This indicates that while the labour market has adapted and evolved in response to the challenges posed by the pandemic, the overall level of participation has not deviated significantly.
Tracking the labour market participation rate allows policymakers and economists to assess the health of the job market and identify trends that may impact employment growth or unemployment rates. It provides valuable information on the willingness of individuals to actively engage in the labour market and contribute to the economy.
Factors influencing the labour market participation rate:
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Economic conditions: Overall economic performance, job growth, and wage levels can influence individuals’ decision to participate in the labour market.
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Demographic trends: Age, gender, education, and family responsibilities can all play a role in shaping labour market participation rates.
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Government policies: Social programs, benefits, and incentives designed to encourage or support participation in the labour market can influence the rate.
“The labour market participation rate provides valuable insights into the overall activity in the job market, helping us understand labour supply and demand dynamics.” – [Authentic Expert Quote]
Examining the labour market participation rate can help us identify potential challenges or opportunities within the job market. By analyzing changes in participation rates over time and across different demographics, policymakers can develop targeted strategies to promote greater labour force engagement and address any imbalances between supply and demand.
Additionally, studying the labour market participation rate alongside other employment indicators such as the unemployment rate, job creation, and wage growth provides a comprehensive understanding of the labour market’s health and performance.
| Year | Labour Market Participation Rate (%) |
|---|---|
| 2019 | 65.7 |
| 2020 | 64.0 |
| 2021 | 65.5 |
| 2022 | 65.2 |
| 2023 (March) | 65.4 |
The table above illustrates the labour market participation rates in Canada over the past few years. While there have been fluctuations, the rate has remained relatively stable, indicating a consistent level of labour force engagement.
Understanding the labour market participation rate is essential for policymakers, employers, and individuals alike. It helps shape strategies for workforce development, provides insights into employment patterns, and facilitates informed decision-making to promote a strong and inclusive job market.
Wage Growth in the Context of a Tight Labour Market
As the labour market in Canada continues to tighten, average hourly wages have experienced significant year-over-year growth. In March, average hourly wages increased by 3.4% compared to the previous year, reflecting the strong demand for skilled workers in various industries. This wage growth aligns with the higher Consumer Price Index, which recorded a 5.7% year-over-year increase in February, indicating the rising cost of living.
Several industries have been driving the growth in wages, including professional, scientific, and technical services. These sectors have not only seen an increase in employment but have also observed a rise in average wages over the past year. The tight labour market has created an environment where employers are competing for talent, leading to improved compensation packages and higher wages for workers.
This upward trend in wages is beneficial for Canadian workers as it helps to improve their purchasing power and standard of living. With higher wages, individuals have more disposable income to support their daily expenses, save for the future, and contribute to the overall economic growth of the country.
However, it is important to note that wage growth can also have implications for businesses, particularly those operating in industries with tight profit margins. Rising wage costs may put pressure on these businesses to increase prices or find ways to improve productivity to offset the higher wages. Strategic workforce planning and investment in technology and automation can help businesses navigate these challenges while maintaining competitiveness.
In summary, wage growth in the context of a tight labour market is a positive indicator of economic strength and reflects the demand for skilled workers in Canada. As average hourly wages continue to rise, workers can enjoy better financial stability and an improved quality of life. Employers, on the other hand, need to adapt to the changing labour market dynamics and find innovative solutions to manage the impact of higher wage costs.
| Industry | Employment Growth | Average Wage Growth |
|---|---|---|
| Professional, Scientific, and Technical Services | +8.1% | +7.5% |
| Finance and Insurance | +3.6% | +4.2% |
| Transportation and Warehousing | +5.2% | +3.9% |
Continued Rise in Employment and Tight Labour Market
The employment landscape in Canada has experienced a notable rise in job opportunities over the past six months. This continuous upward trend in employment is indicative of a tight labour market, where the demand for workers surpasses the available supply. The driving forces behind this phenomenon are a combination of economic factors and demographic changes, resulting in potential imbalances between labour supply and demand.
Several key industries have played a significant role in driving employment growth in Canada. The retail trade sector has seen a surge in job opportunities, reflecting the increased consumer spending and economic recovery. Additionally, the construction industry has witnessed steady growth, fueled by infrastructure projects and housing demand. The health care and social assistance sector, as well as the information, culture, and recreation industries, have also contributed to the overall rise in employment.
The tight labour market poses both opportunities and challenges for job seekers and employers alike. Job seekers benefit from increased career prospects and bargaining power, as employers compete for qualified candidates. However, employers may face difficulties in finding suitable talent and may need to employ creative recruitment strategies to attract and retain skilled workers.
The COVID-19 pandemic has further influenced the dynamics of the labour market, introducing new challenges and shaping the demand for certain skills and occupations. As industries adapt to the changing landscape, individuals may need to acquire new skills or update their existing ones to remain competitive in the job market.
The Rising Demand for Skilled Workers
One of the major consequences of the tight labour market is the increased demand for skilled workers. Employers are actively seeking individuals with specialized knowledge and expertise to fill specific roles within their organizations. As a job seeker, having in-demand skills can significantly enhance your employment prospects and potentially lead to higher wages and better job security.
Investing in Professional Development
To capitalize on the opportunities presented by the tight labour market, it is essential to invest in your professional development. This can involve acquiring new certifications, pursuing advanced degrees, or participating in training programs that enhance your skills and knowledge in high-demand areas. By continuously upgrading your skillset, you can position yourself as a sought-after candidate in a competitive job market.
The Importance of Networking
In a tight labour market, networking becomes increasingly critical in connecting job seekers with potential employers. Building a strong professional network can help you uncover hidden job opportunities, gain valuable insights into the job market, and establish meaningful connections with industry professionals. Attending industry events, participating in networking groups, and utilizing online platforms are effective ways to expand your professional network.
The Future of the Labour Market
As the labour market continues to adapt and evolve, it is essential for individuals and organizations to stay informed and agile. Keeping abreast of emerging industry trends, technological advancements, and evolving job requirements can help job seekers navigate the changing landscape and seize opportunities for career advancement.
| Industry | Employment Growth |
|---|---|
| Retail Trade | Increased job opportunities due to economic recovery and higher consumer spending. |
| Construction | Steady growth driven by infrastructure projects and housing demand. |
| Health Care and Social Assistance | Demand for workers in response to the growing need for healthcare services. |
| Information, Culture, and Recreation | Growing employment opportunities in the digital and entertainment sectors. |
In conclusion, the continued rise in employment in Canada combined with a tight labour market presents both opportunities and challenges. Job seekers can benefit from increased job prospects, while employers may face difficulties in finding suitable candidates. Adapting to the evolving dynamics of the labour market, investing in professional development, and leveraging networking opportunities can help individuals navigate and thrive in this competitive job market.
Impact of COVID-19 on Different Demographic Groups
The COVID-19 pandemic has had varying impacts on employment among different demographic groups in Canada. In March, we observed a mix of employment gains and stability across these groups.
Older women and core-aged men experienced positive employment gains, indicating a positive trend in their employment rates. However, the employment rate for women aged 55 to 64 slightly declined during this period, offsetting some of the gains from the previous month.
Despite the challenges brought by the pandemic, the overall employment trends among women and men showed an upward trajectory. This suggests that there is resilience and adaptability among different demographic groups in navigating the evolving job market.
The long-term employment impact of COVID-19, coupled with underlying demographic trends, significantly influences the dynamics of the labour market. As the Canadian workforce continues to recover from the effects of the pandemic, it is crucial to understand how different demographic groups are affected to devise targeted strategies and support systems.
By analyzing the impact of COVID-19 on these groups, we gain valuable insights into the changing employment patterns and challenges faced by specific demographics. This knowledge aids in creating inclusive policies that address the unique needs of various demographic groups in Canada.
Conclusion
The job market in Canada has shown positive trends in March, demonstrating signs of recovery and growth. Employment rates increased, indicating a strengthening labor market. Various industries, including transportation and warehousing, business support services, and finance and insurance, experienced job gains, reflecting a diverse range of opportunities.
However, it’s important to note that not all sectors saw growth. Construction, other services, and natural resources experienced declines in employment, highlighting the need for continued support and adaptation within these industries. Wage growth remained strong, reflecting the competitiveness of the job market and the value placed on skilled workers.
The COVID-19 pandemic continues to impact different demographic groups in unique ways. By understanding the employment patterns in these groups, we gain valuable insights into the dynamics of the job market. These insights can help shape policies and programs that address the evolving needs of job seekers and employers.
The job market in Canada presents both opportunities and challenges. As employment rates rise, new job prospects emerge across various sectors. However, the tight labor market also means increased competition for desirable positions. By staying informed about the job market trends and taking advantage of available resources, you can enhance your chances of success in the Canadian job market.
FAQ
What were the overall employment trends in Canada in March?
Employment in Canada increased by 35,000 (0.2%) in March, with notable job gains in transportation and warehousing, business support services, and finance and insurance. However, employment declined in construction, other services, and natural resources.
Which industries drove the employment growth in Canada in March?
The transportation and warehousing industry saw significant employment growth in March, with an increase of 41,000 (4.2%). There was also notable job growth in business support services (31,000) and finance and insurance (19,000).
What were the employment rates for different age and gender groups in Canada in March?
In March, employment among men increased by 22,000 (0.2%), while employment among women remained relatively unchanged. The employment rate for women aged 55 to 64 decreased by 0.8%, partially offsetting gains from the previous month. However, overall employment among women and men showed an upward trend.
What were the unemployment rates in Canada in March?
The unemployment rate in Canada remained at 5.0% in March, with most of the unemployed people having been jobless for 13 weeks or less. The long-term unemployed accounted for 16.0% of the unemployed population. The unemployment rates for core-aged women and men remained near historical lows.
How did average hourly wages change in Canada in March?
Average hourly wages in Canada rose by 5.3% on a year-over-year basis in March, reaching $33.12. Wage growth was consistent between men and women, and the professional, scientific, and technical services industry saw significant wage growth of 7.5% over the past year.
What were the employment trends in different provinces of Canada in March?
In March, employment increased in Ontario, Manitoba, Alberta, and Prince Edward Island, while it declined in Saskatchewan. Employment in Quebec remained relatively unchanged. Ontario saw the largest increase of 21,000 jobs, followed by Alberta with an increase of 14,000 jobs.
What was the impact of COVID-19 on the labour market in Canada?
The COVID-19 pandemic has influenced employment trends among different demographic groups in Canada. Older women and core-aged men experienced notable job gains in March, while employment among youth remained relatively stable.
What are hybrid work arrangements in Canada?
Hybrid work arrangements refer to working part of the week from home and part from a location outside the home. In March, 5.9% of workers in Canada reported working in this arrangement, with the professional, scientific, and technical services industry showing strong adoption.
What are the self-employment trends in Canada?
Total self-employment in Canada remained below pre-COVID levels in March, with no significant monthly growth since March 2021. However, there has been some indication of self-employment recovery among men, particularly in the professional, scientific, and technical services industry.
What was the record-low unemployment rate in Canada in March?
The unemployment rate in Canada reached a record low of 5.3% in March, surpassing the previous record low of 5.4% observed in May 2019.
What was the labour market participation rate in Canada in March?
The labour market participation rate in Canada was 65.4% in March, relatively stable since September 2021. This rate indicates the balance between labour supply and demand in the overall activity of the labour market.
How does wage growth align with the tight labour market in Canada?
Average hourly wages in Canada have seen significant year-over-year growth, rising by 3.4% in March. This wage growth reflects the tight labour market conditions and is consistent with the higher Consumer Price Index.
What has been the continued rise in employment and the tight labour market in Canada?
The rise in employment in Canada over the past six months is accompanied by a tightening labour market, leading to potential imbalances between labour supply and demand. Key industries, such as retail trade, construction, health care and social assistance, and information, culture, and recreation, have contributed to this employment growth.
How has COVID-19 impacted different demographic groups in terms of employment in Canada?
The COVID-19 pandemic has had differential impacts on employment among different demographic groups in Canada. In March, employment gains were observed among older women and core-aged men, while employment among youth remained relatively stable.