As per the latest labor force survey in December 2022, Canada ends the year with a rise of over 100000 new jobs. Canada’s employment increased by 0.5% with 104,000 additional jobs and the national unemployment dropping to 5.0%.
Canada’s general employment trends
As reported by the Labor Force Survey for December 2022, employee hourly wages across Canada have increased by 5.1% compared to the same period in 2021. Over 5% in wages has grown each month for the past seven months, marking a healthy rate of growth. Consequently, immigrants seeking a better life in Canada are more likely to find higher-paying, steady employment due to this growth.
According to the Labor Department, 112,000 new private-sector jobs were created in December. It speaks to the role that the private sector plays in Canada’s employment boom. A comparatively small amount of time was spent by self-employed workers and public sector employees last month.
With a boost in employment outcomes that included people aged 15 to 24 (+2.7%). And seniors aged 55 and over (+31,000 jobs), employment outcomes improved for a variety of different age groups in Canada.
Industry-specific employment trends
In December, there was a decrease of 17,000 jobs (a decrease of 0.7%) in the healthcare and social assistance industry. In contrast, from the last Labor Force Survey, employment in seven different industries across Canada has grown. These industries include construction, Transportation and Warehousing, finance and insurance, real estate and rental and leasing, professional, scientific, and technical services, educational services, and information and cultural industries.
Construction: With an additional 35,000 jobs created, the Canadian construction industry grew by 2.3% in December 2022.
Transportation and Warehousing: In December, the transportation and warehousing industry in Canada saw a 3.0% rise in employment, resulting in an additional 29,000 jobs.
Information, culture, and Recreation: It is expected that this industry in Canada will add 25,000 new jobs by the end of 2022, an increase of 3.1%.
Professional, Scientific, and Technical Services: During this period, this industry’s employment increased by 1.3% with 23,000 individuals employed (+1.3%).
Accommodation and Food Services: Compared to one month ago, this industry now employs 13,000 more people (+1.2%).
Public Administration: It is estimated that the number of jobs in this sector increased by 11,000 between November and December of 2022, or by 0.9%.
Other Services: 10,000 new employees have been added to this industry since one month ago (+1.3%).
Provincial and territorial employment trends
The employment rate increased in six provinces: Manitoba, Ontario, Alberta, Newfoundland and Labrador, British Columbia, and Saskatchewan in December 2022.
In December, Ontario gained 42,000 jobs (+0.5%), an increase of 1.4% from the previous year. According to government statistics, Ontario’s unemployment rate was 5.3% at the end of 2022, a 0.8% decline year-over-year.
Despite a 5.8% unemployment rate in December, Alberta’s employment increased by 25,000 jobs (+1.0%). There was a 3.9% increase in employment in Alberta and a 1.7 percent decrease in unemployment year over year.
As of December 2022, the following are the results for the four final provinces:
British Columbia: A gain of 17,000 jobs (0.6%) was recorded in December 2022, despite a largely unchanged unemployment rate of 4.2%.
Manitoba: As a result of a 1% increase in jobs, Manitoba’s unemployment rate dropped from 4.4% to 4.4% in December.
Saskatchewan: The unemployment rate in Saskatchewan remained steady at 4.1% in December, but employment increased by 4,200 (+0.7%).
Newfoundland and Labrador: This province experienced a 3.9% employment increase in December 2022. The highest unemployment rate (10.1%) was found in Newfoundland and Labrador out of 10 provinces.
Canada ends the year with a rise of over 100000 new jobs and Canada’s four provinces remain stable. But Quebec’s unemployment rate dropped by 0.7% year-over-year in December 2022, according to this month’s Labor Force Survey.
Yukon’s unemployment rate increased from 4.8% (+2.3%) in Q4 2022 to 4.8% (+2.3%) in the three Canadian territories’ quarterly employment reports. Otherwise, the three areas’ quarterly employment and unemployment figures were largely constant.
