The seasonally adjusted, three-month moving average unemployment rates for major cities for March 2023 revealed that Quebec City has a 1.7 percent unemployment rate. This record was lower compared to that in February, which was 1.9 percent.
Statistics Canada cautions, however, that the figures may fluctuate greatly. This is because they are based on small statistical samples.
The unemployment rates for other cities include 4.5%, 4.8%, 4.0%, and 5.8% for Halifax, Montreal, Ottawa, and Toronto, respectively.
Canadian Visa Expert stated that Canada’s March employment indicated a 5.0% national unemployment rate, a 62.4% employment rate, and a participation rate of 65.6%, according to government statistics. The number of unemployed for the month was 1,053,000, while the number of those working was 20,088,800.
Only 1.7% Unemployment Rate in Quebec City
The Employment Report for March
Statistics Canada reported that the employment report for March indicated that unemployed people were less likely to stay out of their job for a long time. This is because about 16% of the unemployed in March were people who had been out of a job for 27 weeks or more. This record is lower compared to the 20.3% reported last year.
While Canada’s labor market is reported to be tight at the moment, this phenomenon is not expected to last forever. Nonetheless, Canadian Visa Expert noted that millions of workers are retiring this decade and there are plenty of jobs in Canada for skilled immigrants to choose from.
Canada's Current Labor Market
Canada’s businesses have been reporting labor shortages as a top concern, although surveys are showing signs that the labor market is easing. Brendon Bernard, a senior economist, added that the country’s steady 5% unemployment rate is a pointer that the labor market is still doing well.