Ottawa: At a time many big companies around the world are retrenching, Canada has created 10,000 new jobs in all sectors in the month of November. This has been revealed in the new labor force survey.
Due to new jobs in the country, the unemployment rate has fallen to 5.1%. Meanwhile the employment participation rate fell to 64.8%.
Despite this modest employment increase, the data showed that for the sixth consecutive month in November, the average hourly salary of employees has been above 5% compared to $ 32.11 in November 2021. This means that in the coming days, new people will get more opportunities to work with more earnings.
Sectors that saw the most jobs include finance, insurance, real estate, rental and leasing, manufacturing, information, culture and entertainment. These sectors have seen a large number of hirings in the last month.
According to the survey, the number of people working in these sectors has increased by 21,000 in November.
Manufacturing industry job increased
Employment in the manufacturing industry has seen a growth of 1.1%. In Alberta State, employment in the industry has increased by 4.7% and in Quebec, more than 10,000 people have got jobs in the manufacturing sector.
Meanwhile, the manufacturing industry, wholesale and retail trade have seen a sharp decline in the last month.
Employment in the construction industry across Canada has fallen by 1.6% since the last Labour Force survey in October 2022. Wholesale and retail trade employment also fell in November, a decline of 4.4% since May 2022.
Early next year, Canada is likely to start conducting the Express Entry Draw, under which foreign nationals working in specific occupations or those with special language skills/educational backgrounds will be given a chance.