Reports show that Canada made the addition of more than 440,000 new jobs between October 2018 and October 2019. Statistics Canada’s new Labour Force Survey found that British Columbia and Newfoundland were the Canadian provinces that reflected the maximum employment gains in the month of October. 443,000 new jobs were added in Canada within a span of just 12 months, which is definitely praiseworthy.
Statistics Canada has stated that the rise was accompanied by growth in full-time work. While there was a slight dip in overall employment during October because Canada lost around 1,800 net jobs, it has not hindered the national unemployment rate. According to the survey, the national unemployment rate still stands steady at 5.5 percent. There were large employment gains in August and September, after which the slight dip in net jobs during October could not make an impactful dent.
The provinces of British Columbia and Newfoundland have reported significant employment gains. British Columbia, with a gain of 15000 net jobs, was the most successful among the Canadian provinces in October. According to Statistics Canada, this could be attributed to the increments in full-time work for elders. People aged 55 and overtook more initiative and ushered in this growth.
The unemployment rate of British Columbia is still stable at 4.7 percent, and it is the lowest in Canada. Provinces like Newfoundland and Labrador also acquired 2,700 net jobs in October. The increase in part-time work among the people aged between 24 and 54 fuelled this gain. Other provinces in Canada did not report any major changes in the unemployment rate and employment level. The rise in employment among people aged 55 and over by 31,000 net jobs is a good sign for the Canadian economy.