The Unemployment Rate in Canada Has Fallen to a New all-Time Low
The Unemployment Rate in Canada Has Fallen to a New all-Time Low.
The occasional experience of joblessness is something that can be expected of immigrants living in Canada. In the most recent few months, the unemployment rate in Canada has dropped to record lows thanks to a number of variables that have worked in favor of this. According to the findings of the Labour Force Survey conducted in Canada during the month of March, immigrants who have been in the country for the past five years will have a great deal of success finding work that will allow them to provide for themselves and their families.
The poll was carried out between March 13 and March 19, inclusively, during the week. This past week saw public health authorities relax some of the stringent limitations that had been in place as a result of the Corona pandemic. In several Canadian jurisdictions, such as Quebec, Ontario, and Manitoba, patients are no longer required to provide documentation that they have been vaccinated. The majority of hospitals likewise got rid of the previously enforced capacity limits.
The unemployment rate in Canada reached a new record low of 5.3%, a decline of 0.2% from its previous level. Since records began to be kept in 1976, this nation’s unemployment rates have never been lower than they are right now. Statistics Canada is responsible for maintaining accurate records of Canada’s various unemployment rates. The organization determines the unemployment rates by dividing the total number of people actively looking for work in Canada by the total number of jobless immigrants in the country. The adjusted unemployment rate, which includes immigrants who were interested in a job but did not bother looking for one, was provided by Statistic Canada as an extra statistic. With this information, the unemployment rate was determined to be 7.2%, which is still an amazing amount.
There is no doubt that the unemployment rates in Canada have hit an all-time low, which will lead to an increase in the number of persons interested in applying for work visas. The unemployment rate for core-aged immigrants in the country achieved an all-time low of 8.3%, compared to statistics collected since 2006. The unemployment rate for workers who were born in Canada is only 4.5%, indicating that finding work is not difficult for them. The gap that existed between the unemployment rates of job seekers who were born in Canada and those who had immigrated to the country before to the epidemic is still there today.
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Significant Improvements That Will Be Made To The TFWP In Canada In Order To Counteract Labor Deficiencies
On April 4, Canada enacted new policies that will make it simpler for Canadian firms to hire temporary workers from other countries. These were a response to the widespread lack of available workers around the country. These steps are the direct result of the country’s having a low unemployment rate while also having a big number of job vacancies at the same time.
The first step in addressing the problem is to hire temporary foreign employees to fill positions in occupations for which there are insufficient qualified Canadian candidates. According to a news release issued by the Canadian government, the modifications that were made to the Temporary Foreign Worker Program (TFWP) are intended to assist Canada in the development of its workforce.
The following are the next significant upgrades that will be implemented into TFWP:
- The Labor Market Impact Assessments, which are now valid for 18 months, up from nine months previously. LMIAs are pieces of documents that demonstrate to the government of Canada that employing a foreign worker would not have a detrimental effect on the local labor market. Just prior to the epidemic, the time span during which LMIAs were considered valid was only six months.
- The maximum number of years that an employee can remain in their position in the High-Wage and Global Talent Stream has been increased to three. As a result of this extension, employees will have an increased chance of qualifying for new routes to permanent residency, which will, in the long run, make it easier for them to contribute to Canada’s labor force.
- In addition to this, the Seasonal Cap Exemption, which has been in place since 2015, will eventually be made permanent. Employers in seasonal sectors will no longer have a cap placed on the number of low-wage posts that they are able to fill through the TFWP. The maximum number of days that can be worked in the low-wage role each year will get up from 180.
