Canada’s unemployment rate falls to all-time low of 5.2%

Canada’s unemployment rate falls to all-time low of 5.2%

Canada’s labour market remains terribly sturdy for Canadian-born and migrant employees alike.
Canada’s percent has fallen to a new all-time low all over again.

Statistics Canada reports it fell to 5.2 per cent in April, down from the previous record of 5.3 per cent that was set in March.
The percent for individuals aged 25 to 54 is even lower, because it stands at 4.3 per cent, that is additionally all-time low recorded rate ever since comparable information became available in 1976.

The percent among immigrants fell to 5.5 per cent in April, compared to 5.8 per cent in March.

It fell across the 3 immigrant cohorts reported by Statistics Canada.

It fell to 7.8 per cent among immigrants who gained permanent residence inside the last 5 years, compared to 8.3 per cent in April.

Among immigrants that gained permanent residence between five to ten years ago, it fell to 5.8 per cent compared to 6.3 per cent in March.
Among immigrants that gained permanent residence ten years ago or more, it stood at 4.6 per cent in April compared to 4.8 per cent in March.

Overall Canada includes a historically high job vacancy rate with over 800,000 empty jobs.
This is leading to the federal government and provinces across Canada seeking to ease their Temporary Foreign employee Program (TFWP) rules.

Check about latest Canada Occupation in Demand List

For instance, Canadian province proclaimed earlier in the week it had been lifting all occupations from a previous “refusal to process” list it operated to forbid employers from seeking to recruit foreign employees in occupations that had labour surpluses.
In April, the federal government eased its TFWP rules in response to Canada’s historically low percent and historically high job vacancy rate.
Canada is additionally wanting to welcome additional immigrants to handle its labour force needs. under the Immigration Levels plan 2022-2024, Canada is wanting to welcome over 430,000 immigrants each year, most of whom can arrive under the economic class.
The main means the Canadian government appearance to welcome economic class immigrants is thru express Entry. Following a brief pause in invitations to the 2 main express Entry programs, Immigration, Refugees and Citizenship Canada (IRCC) recently proclaimed the news it’ll resume express Entry invitations to all or any candidates starting in early July.

It will additionally look to bring the permanent residence processing time for express Entry candidates to 6 months starting in July.
One of the explanations this can be major news is express Entry will appear as Canada’s main economic class immigration pathway. express Entry can account for one-quarter of Canada’s migrant admissions come 2024, a complete of over 110,000 immigrants who are welcome by Canada on their basis to contribute to the labour market.

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