Unemployment Rate in Canada at an All Time Low

The labour market in Canada remains turgid and resilient in the post-pandemic recovery phase for both nationals and immigrants.

The North American country recently saw it’s unemployment rate fall to an all-time low of 5.2% in April, 2022.

Statistics Canada revealed that the April unemployment rate beat the previous record of 5.3% set in March, 2022.

The unemployment rate for the population sample space of people between 25 to 54 is even lower at 4.3%. This is also the lowest rate recorded since data was first available in 1976.

The unemployment rate for people aged 25 to 54 is even lower, as it stands at 4.3 per cent, which is also the lowest recorded rate ever since comparable data became available in 1976.

Amongst immigrants in Canada, the unemployment rate fell to 5.5% in April, 2022 from 5.8% in March 2022.

The Great White North is currently experiencing a historically high job vacancy rate with over 800,000 unfilled jobs.

The high vacancy rate is leading to Canadian Federal and Provincial government exploring rollbacks on the Temporary Foreign Worker Program (TFWP) rules.

The country, under the Immigration Levels Plan 2022-2024, is looking to welcome over 430,000 immigrants per year. Most of them will arrive under the economic class.

Express Entry is the main pathway for economic class immigrants to enter Canada. Immigration, Refugees and Citizenship Canada (IRCC) announced the news it will resume Express Entry invitations to all candidates beginning in early July.

Canada will look to bring the permanent residence processing time for Express Entry applicants to six months beginning in July.

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