Canadian Unemployment Levels Drop to 5.8% in March

Updated on Wednesday 18th April 2018

The Canadian economy is booming, according to Statistics Canada, as the number of jobs has increased considerably since the beginning of the year. According to the same report issued by the national statistics office, the unemployment level is at one of its lowest rates in the last few years. Foreign enterprisers interested in investing in one of the most reliable economies in the world can request assistance from our Canadian company formation agents.

March was a good month for the Canadian employment market

The good economic performance of Canada brought a significant growth of the labor market, as in March 32,300 new jobs were registered with the social security authorities. Moreover, all the jobs reported by employers are full-time.

The report issued by Statistics Canada indicates that most of the jobs were registered in the public sector, however private companies are also hiring, even if at a slower pace.
On the same note, the creation of such great number of jobs led to Canada having one of the lowest unemployment rates since 2007. In February and March, the unemployment rate decreased to 5.8%.

During the same two months, Canadian companies have gained 68,300 full-time employees, while part-time jobs have met a significant decrease with a total number of 35,9000.
Our company registration advisors in Canada can offer information on the employment legislation in this country.

Ontario and Quebec lead the labor market in Canada

The greatest number of new jobs was registered in the provinces of Ontario and Quebec with 10,600 new position in each region. However, by percentage, the best results were registered in the provinces of Saskatchewan and Alberta – 0.7%, respectively 0.4%.

Most of the employees in all provinces were young, which led to a drop of 10.9% in the unemployment numbers of young.

When it comes to the industries generating most of the jobs, companies in the construction, services and manufacturing of goods were the largest employers since the beginning of the year.

Foreign investors interested in investing in Canada can rely on our local consultants for support in registering companies in any of the country’s provinces. Please contact us for information on our services.