Workers are dropping out of Canada\u2019s labour force, meaning many are no longer seeking or holding down jobs, reveals Statistics Canada in its latest Labour Force Survey<\/i>.<\/p>\n
In September, unemployment fell in Canada to 5.2 per cent, just shy of the record-setting low unemployment rate of 4.9 per cent seen in June and July, after having risen to 5.4 per cent in August.<\/p>\n
And there was a bit of an improvement in the number of people holding down jobs in September as well.\u00a0<\/span><\/p>\n Read More<\/b><\/p>\n British Columbia PNP Draw: Province Issues At Least 366 Canada Immigration Invitations<\/a> During that month, the number of people working full and part-time jobs rose by 21,000 workers.<\/p>\n But foreign nationals eyeing economic immigration programs to come to Canada \u2013 like the Express Entry<\/a> system-powered Federal Skilled Worker<\/a> (FSW), Federal Skilled Trade<\/a> (FST), and Canadian Experience Class<\/a> (CEC) programs or the participating Provincial Nominee Programs<\/a> (PNP) –\u00a0 <\/span>will most likely most care that Canada is seeing workers drop out of the labour force altogether.\u00a0<\/span><\/p>\n \u201cWhile elevated job vacancies continued until at least July, both the total size of the labour force – or the number of people who are either employed or unemployed – as well as the participation rate have trended downwards since May,\u201d reports Statistics Canada.<\/p>\n \u201cSpecifically, the total labour force was down by 79,000, or 0.4 per cent, compared with May, although it was little changed on a monthly basis in September.\u00a0<\/span><\/p>\n \u201cThe labour force participation rate edged down by 0.1 percentage points from August to 64.7 per cent in September, and was 0.6 percentage points lower than in May.\u201d<\/p>\n That drop in the labour force and the decline in the participation rate of workers is leading economists to conclude Canada\u2019s labour shortages will persist beyond the next recession.<\/p>\n In\u00a0Proof Point: Canada\u2019s Labour Shortages Will Outlive A Recession<\/i>, RBC economists Claire Fen and Nathan Janzen and economics writer Naomi Powell outlined the grim reality for Canadian employers in late July.<\/p>\n \u201cAs of June 2022, businesses posted almost 70 per cent more\u00a0job\u00a0openings\u00a0in Canada than pre-pandemic,\u201d they noted. \u201cBut these firms were competing for 13 per cent fewer unemployed workers than were available in February 2020.<\/p>\n Watch Video<\/b><\/p>\n
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\nLabour Shortages Will Persist Beyond The Next Recession, Say Economists<\/h3>\n
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