In 2023, Canada experienced a significant boost in its job market, with the creation of 500,000 new jobs, according to a report by Statistics Canada (StatCan).
This positive trend has been fueled by various factors, including a rise in immigration, sector-specific growth, and shifting work arrangements.
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Job Growth Across Sectors:
Construction and Manufacturing Jobs:
The construction and manufacturing sectors played a pivotal role in driving employment up. Both sectors witnessed a rise in jobs, with construction seeing an increase of 16,000 (+1.0%) and manufacturing contributing an additional 18,000 jobs (+1.6%).
Total Hours Worked:
While these sectors flourished, there was a 0.7% decrease in total hours worked in November, indicating a shift in how work is distributed.
Immigration Impact on Employment:
Immigrants Seeking Opportunities:
The report highlights a notable influx of immigrants in recent years, with many choosing Canada for its promising job opportunities.
Population Growth:
From July 1st, 2022, to July 1st, 2023, there was an impressive 98% growth in the population of immigrants and non-permanent residents in Canada. This surge contributed significantly to the overall job market expansion.
Regional Employment Trends:
New Brunswick:
New Brunswick reported a commendable increase in employment by 2,400 jobs (+0.6%) for the second consecutive month. Over the 12 months leading to November 2023, employment in the province grew by 15,000 jobs (+4.0%).
Quebec:
Quebec, however, experienced a 0.3% rise in the unemployment rate, reaching 5.2%. This was a notable increase from the record low of 3.9% in November 2022.
Ontario:
Employment in Ontario remained stable for the fifth straight month, with the unemployment rate standing at 6.1%. This marked an increase of 1.2 percentage points from April.
Wage Increase and Changing Work Arrangements:
Stable Employment for Key Demographics:
Employment for individuals aged 25 to 54 remained stable in November. Notably, women working full-time in this age group increased by 34,000 jobs (+0.6%).
Wage Growth:
The average hourly wage showed a year-by-year increase of 4.8%, reaching $34.28 in November. This positive trend reflects a healthy job market.
Rise of Hybrid Work:
Hybrid work arrangements tripled since January 2022, reaching 11.7% in November 2023. This shift is attributed to factors such as industry composition and flexible schedules.
Parental Work Flexibility:
Parents of young children, especially those aged five or younger, were more likely to have hybrid work arrangements or work from home. Approximately 30.1% of parents had these flexible work options, including 33.2% of mothers and 27.4% of fathers with young children.
