Economic recovery well underway

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Economic recovery is well underway as employment rises

Economic recovery seems well underway, according to latest data from Statistics Canada Labour Force Survey. Data shows that employment rose 2.1 per cent in September, and also that more immigrants are getting jobs. Statistics Canada collected data between September 13 to September 19. Moreover, the survey remarks that the employment rate is now within 5.7 per cent of its pre-coronavirus levels.

Source: Statistics Canada

However, the accommodation and food service sectors, as well as retail trade industries, still face problems. Employment rate of very recent immigrants changed little, but that of immigrants landing more than 5 years ago increased. Statistics Canada reports: ‘Immigrants who¬†landed in Canada more than five years ago are more likely than very recent immigrants to find employment in industries where employment has been relatively less affected by COVID-19’.

Notwithstanding, recent immigrants are more likely to lose employment because of their over-representation in low-wage jobs. Another key finding of the report is that U.S. and Canada have similar unemployment rates. Nonetheless, Canada saw a higher employment rate than the U.S. in September.