The month of April proved to be extremely beneficial for Canada as the country added 107,000 net new jobs, most of them being full-time. Canada had an excellent April in terms of employment, as they created a record for the largest one month gain recorded in net jobs. The overall employment increased by 107,000 in April. Provinces like Ontario, Prince Edward Island, Quebec, and Alberta were witnesses to this large jump in employment. This was not expected, and it crossed the forecasted rate of increase by a wide margin. The idea was that there might be an increase of 10,000 net jobs, which could help increase Canada’s employment rate.
Among the new jobs allotted in April, 73,000 were full-time. Most of the new allotments, 84,000 to be precise, occurred in the private sector.
If we are to calculate on a year-over-year basis, then we will see that employment has risen by 426,000, 248,000 of them are full-time, which shows that the country might be heading towards considerable progress. According to data, employment increased for youths who are aged between 15 to 24 and people who are 55 and older. Women, aged between 25 and 54, also got better opportunities.
The senior economist with the Toronto Dominion Bank, Brian DePratto, was impressed with the statistics as he found that the month had recorded almost every indicator of quality. The rapid increase shows that employers still have faith in the Canadian economy.
A large number of industries saw a rise in employment during this period.
● Information, culture and recreation (+14,000)
● Public administration (+9,000)
● Wholesale and retail trade (+32,000)
● Construction (+29,000)
● Agriculture (+7,000)
According to Bloomberg News, the rise in employment is indicative that the Canadian economy has invited new workers, mainly through immigrants.