There was a rise in the Canadian employment rate in the last quarter of 2023, primarily led by a seasonal surge in education workers. Canadian Visa Professionals could establish that while economists expected about 25,000 jobs would be added to Canada’s economy, more than 64,000 new jobs were created in September 2023.
The new job additions ensured the jobless rate held steady at a healthy 5.5 per cent.
Canadian Visa Professionals could confirm that the adult population increased by 82,000 people during the first month of the last quarter of 2023, and about 72,000 of them are considered to be of working age.
The majority of the job gains fell in the part-time category, with more than 48,000 roles filled.
“The increase in part-time jobs could be tied to the ongoing influx of immigrants as newcomers might not find full-time work right away in the country,” said Tu Nguyen, an economist with RSM Canada.
Impacts of rise in Canadian employment
According to Canadian Visa Professionals, new jobs need to be added to the Canadian economy to keep the unemployment rate constant and in check. Economists have highlighted that nothing less than 50,000 additional jobs per month are necessary to sustain the Canadian economy, given the immigration-driven population growth.
Though a large percentage of the job additions in the last quarter of 2023 were concentrated in the education sector, the job gains played a key role in sustaining Canada’s economy.
Other sectors of the economy, such as transportation and warehousing, are also seeing sustained demand for workers.