Canadian Visa Expert could confirm that new jobs have been added to the Canadian economy in the past four months of 2024. Although there was a massive population increase in 2023, the Canadian employment rate also increased drastically.
In 2023, more than 345,000 people were added to the Canadian labor market, indicating that the economy is gaining strength again.
According to Canadian Visa Expert, the unemployment rate is lower than it has been in the past two years, even though the employment rate has yet to catch up with the ever-surging population growth.
As it stands, the population growth of people aged 15-plus in Canada has jumped by one million.
More about the fall in the unemployment rate
The unemployment rate fell by 5.7 percent in January because the Canadian economy added 37,000 jobs.
Canadian Visa Expert says the Canadian economy started this New Year with a flurry of new jobs, but hiring concentrated more in the public sector than the private sector.
Job creation in the public sector rose by 47,600 positions in full-time work and 48,900 positions in part-time work.
Canadian Visa Expert can also confirm that the number of hours worked across the economy increased by 0.6 percent in January, even though more jobs were created for part-time roles than full-time roles.
It is also noteworthy that wages are continuing to grow quickly, with an hourly wage rise of 5.3 percent year over year.