The job markets in Canada were found to be deeply affected since the start of the pandemic until last two months. However, the recovery since August-September have proved to be highly remarkable in the job markets in Canada. They have helped in the restoration & recovery process in a huge way. Hence, taking the Canadian economy back above the Pre-Pandemic levels. Before the start of the pandemic the job markets in Canada were happily placed. As well as the number of people coming to Canada from across the borders & getting jobs and work-permits. The decline in the job markets was never expected, but due to the pandemic it affected the markets in many sectors. Especially, the retail industry and the banking sector got deeply hurt. Ironically, as well as other corporate sectors automatically hurting the Canadian economy. Finding new jobs became a challenge for people especially during the times of the pandemic.
An addition of 160,000 new jobs last month, i.e. in September is a good news for Canada & its provinces. These are the figures that will help Canada in a huge way to get back to its normal figures. Also, while having positive assumptions regards to all the grey areas that can be a hindrance in new jobs.
According to the latest stats the economists were predicting 65K new jobs, but they were amazed to see a more than double increase in the new jobs in different Canadian sectors. An incredible decrease in the jobless rate bringing it down to 7% which is found to be the lowest since the start of the pandemic. According to experts, it shall be closer to 6% by the end of this year and the start of 2022 will be a new happy start for the job hunters in Canada, especially the immigrants. Before the start of the pandemic the rate was ideally placed at 5.5%.
A MASSIVE RECOVERY, BUT LONG TERM JOBLESSNESS STILL PERSISTS:
A massive recovery in the job markets in Canada after the pandemic, however, the long-term joblessness still persists in the Canadian markets. It demonstrates the amount of hurt that the job markets in Canada has taken & how hard it has been to sustain like before. Canadians are the people who want to work and don’t like the idea of being unemployed by choice. This is also a good reason why we need to dig down and find out exactly what’s holding them back and how the pandemic has hurt the psychologies of the Canadian citizens.
According to the Canadian chamber of commerce, the restoration of the economy and especially the job markets rests heavily on the understanding that what’s holding the Canadian citizens back at home. This is especially true after the pandemic has dented the economy and the sustainability of the long-term job markets. Is it the requirements specifications that have changed Post-Pandemic or the salaries or the pay-scales that have automatically been affected after the pandemic? Whatever is the reason the chamber of commerce are positive that 2022 shall be a better and more responsive year in terms of the job prospects in Canada. This is especially for Canadian citizens as well as the huge number of immigrants coming to Canada on a yearly basis.