Jobs were shed throughout Canada in August and economists are now warning the second half of this year will see lower GDP growth \u2013 but the number of jobs going begging for a lack of workers is still higher than it was during the same month last year.<\/p>\n
In its Payroll Employment, Earnings And Hours, And Job Vacancies, August 2022<\/i> report released this week, Statistics Canada reveals jobs vacancies did soften a bit in August, falling to 958,000 compared to 964,000 in July. The number of workers in paid jobs, though, was still up that month compared to August 2021.<\/p>\n
During that month last year, there were only 919,200 job vacancies, or 4.1 per cent less than this year.<\/p>\n
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How Americans And Mexicans Can Work In Canada Under CUSMA<\/a> There is no doubt Canada\u2019s economic growth is slowing down. After second-quarter GDP growth of 3.3 per cent, TD Economics is forecasting the slowdown in the second half of this year will pull down GDP growth to three per cent for this year.<\/p>\n And then, the economy will slow down even more next year. TD Economics is forecasting only one per cent economic growth in 2023.<\/p>\n \u201cThe impact of higher interest rates and elevated inflation will increasingly leave its mark on overall spending activity in late 2022 and into 2023,\u201d noted TD Economics in its Canadian Quarterly Economic Forecast, Threading the Needle<\/i>.<\/p>\n \u201cGiven the expected slowing in demand, the underlying economic dynamics won\u2019t be sufficient to generate enough jobs to absorb people entering the labour force or those already on the sidelines,\u201d states the report released late last month.\u00a0<\/span><\/p>\n \u201cThis means the unemployment rate should push higher. It has already risen from a low of 4.9 per cent to 5.4 per cent and is expected to reach 6.5 per cent in 2024.\u201d\u00a0<\/span><\/p>\n \u00a0<\/span>The number of paid employees in Canada slumped by a tenth of a percentage point in August, a drop of 22,200 jobs.<\/p>\n \u201cThe overall payroll employment decline was led by losses in Quebec, which shed 28,100 jobs, and Ontario, which lost 13,800, which were partially offset by gains in British Columbia, which added 8,100 jobs, and Manitoba, which also added 2,800 jobs,\u201d notes Statistics Canada.<\/p>\n Foreign nationals hoping to immigrate to Canada through the country\u2019s economic immigration programs can take comfort in the fact that there are still almost one million jobs up for grabs.<\/p>\n And, in some sectors, employers are bucking the national trend. They\u2019re in hiring mode.<\/p>\n \u201cPayroll employment in the professional, scientific and technical services sector increased by 5,200 jobs in August, following a gain of 7,900 in July,\u201d notes Statistics Canada.\u00a0<\/span><\/p>\n British Columbia added 2,900 paid workers and Ontario added another 2,800, the largest gains in Canada in this sector.\u00a0<\/span><\/p>\n If you are a candidate looking for a Canada job, or an employer looking to recruit foreign talent from abroad, immigration.ca can help. Access our expertise through our in-house recruitment enterprise\u00a0<\/b>www.skilledworker.com<\/b><\/a>, \u201cthe leader in foreign recruitment\u201d.<\/b><\/p>\n \u201cNationally, gains within the sector were concentrated in the computer systems design and related services and management, scientific and technical consulting services industries,\u201d notes the statistical and demographic services agency.\u00a0<\/span><\/p>\n \u201cPayroll employment in computer systems design and related services has continued to outpace the sector’s overall growth rate, bringing the total gain to 65,900 since September 2021.\u201d<\/p>\n Under the\u00a0Express Entry system<\/a>,\u00a0immigrants can apply for\u00a0permanent residency<\/a>\u00a0online if they meet the eligibility criteria for one of three federal immigration programs,\u00a0the\u00a0Federal Skilled Worker Program<\/a>\u00a0(FSW),\u00a0Federal Skilled Trades Program<\/a>\u00a0(FST), and\u00a0Canada Experience Class Program<\/a>\u00a0(CEC),\u00a0\u00a0or a\u00a0participating provincial immigration program.<\/p>\n Candidates\u2019 profiles then are ranked against each other according to a points-based system called the\u00a0Comprehensive Ranking System<\/a>\u00a0(CRS). The highest-ranked candidates will be considered for an\u00a0Invitation to Apply<\/a>\u00a0(ITA) for permanent residence. Those receiving an ITA must quickly submit a full application and payment processing fees, within a delay of 90-days.<\/p>\n
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\nProfessional, Scientific And Technical Services Sector Is Still In Hiring Mode<\/h3>\n
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\nProvinces And Territories Nominate Applicants Through Their Provincial Nominee Programs<\/h3>\n