Labour Force Survey Canada has released its report on employment market trends and statistics for December 2022. Canada has successfully overcome its labour shortage crisis.
The prevalent average hourly wages have been recorded as 5% over the average national wage rate for seven months. The average hourly wage rate has also increased at the rate of 5.1% per annum over the previous year’s rates.
Several sectors of the economy have recorded growth in December 2022. The top sectors included construction, transportation and warehousing, information, culture and recreation, professional, scientific and technical services, accommodation and food services, and public administration.
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The highest growth in employment was recorded in the sectors of transportation and warehousing, and construction at 3% and 2.3% respectively. In terms of figures, 35,000 jobs were added in construction and 29,000 in transportation and warehousing.
The information, culture, and recreation sector saw a jump of 3.1% in employment with an addition of 25,000 jobs. Professional, scientific, and technical services saw an increase of 23,000 jobs at a growth percentage of 1.3%. Accommodation and food services employed 13,000 persons with a 1.2% increase and Public Administration also employed 11,000 people at a 0.9% growth rate.
However, a drop of 0.7% with a loss of 17,000 jobs was recorded in the healthcare and social assistance sector.
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The regions that recorded the highest employment growth were Ontario, Alberta, British Columbia, Manitoba, Newfoundland and Labrador, and Saskatchewan. Job increases in figures were recorded at 42,000 and 25,000 in Ontario and Alberta, respectively.
The job increase for the 15-24 years age group was recorded at 2.7% with 69,000 jobs. The report also revealed that the private sector made a significant contribution to the rise in employment. The overall increase in the private sector was recorded at 1,12,000 jobs.
Foreign nationals played an important role in the recovery of the Canadian employment sector. Over 4,37,000 PR visas were issued by the government in 2022.
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Source: Livemint
