adplus-dvertising
Connect with us

News

Canada continues to have very low unemployment rate – Canada Immigration News

Published

 on


Published on August 7th, 2022 at 08:00am EDT

Aa
Accessibility

Font Style


<!–

–>

Wholesale workers

Wholesale workers

Canada’s unemployment rate held steady at 4.9% in July, matching the record low from the month before.

The total number of unemployed people held steady at one million in July. In addition, 426,000 people wanted a job but did not look for one, and therefore did not meet the definition of unemployed. This was little changed for the sixth consecutive month. The adjusted unemployment rate—which accounts for this source of potential labour supply—remained at 6.8%, the lowest rate since comparable data first became available in 1997.

In addition, employment in Canada decreased by 31,000 jobs, which according to Statistics Canada does not represent a significant change. Canada lost about 74,000 jobs from May to July, but from May 2021 to May 2022, employment had increased by more than one million.

Discover if You Are Eligible for Canadian Immigration

That being said, July marks the second consecutive month of decreased employment in Canada. Plus, the record-low unemployment coupled with more than one million job vacancies means Canada is still facing a tight labour market.

“Two consecutive months of lower employment indicates that the Canadian labour market is running up against capacity constraints, with little room for upside movement,” writes RBC economist Carrie Freestone in an economic update. “Demand for workers is still very high with job postings still 65% above pre-pandemic levels (though the number of job postings continues to fall), and there are few unemployed Canadians available to fill these vacant positions.”

Employment among public sector employees fell by 51,000 (1.2%) in July, the first decline in the sector in 12 months. The decrease was largely concentrated in Ontario and Quebec. Despite the month-over-month decline, public sector employment was up 5.3% (+215,000) compared to July 2021.

The number of self-employed workers increased by 34,000 (+1.3%) in July after falling by 59,000 (-2.2%) in June. Despite this increase, self-employment remained flat on a year-over-year basis and was 214,000 (-7.4%) below its pre-pandemic February 2020 level.

Employment fell by 53,000 (-0.3%) in the services-producing sector in July. Wholesale and retail trade contributed the most to losses in this sector. The number of people working in wholesale and retail trade fell by 27,000 (-0.9%) in July, the second consecutive monthly decline. The majority of the net decrease took place in Ontario and Quebec.

“Job losses were strangely concentrated in the services sector, including wholesale and retail, education and health,” Andrew Grantham, CIBC told Reuters. “With some of those sectors reporting high vacancy rates; labour supply rather than demand appears to be the main issue. That said, the major difference between today’s report and last month’s is that wage growth unexpectedly decelerated.”

Average hourly wages for employees rose 5.2% (+$1.55 to $31.14) on a year-over-year basis in July, roughly the same year-over-year rate of increase seen in June (+5.2%; +$1.54). For a second consecutive month, average hourly wages grew at a similar pace among part-time (+5.0%; +$1.05) and full-time (+4.9%; +$1.52) employees. Earlier in 2022, wage growth had been faster among full-time employees compared to part-time workers.

The most recent inflation data indicated that the Consumer Price Index rose 8.1% on a year-over-year basis in June, the largest annual change in nearly 40 years.

“The rising cost of living is raising the temperature at the collective bargaining table,” wrote economist Liam Daly in a Conference Board of Canada media release. “Given the rate of inflation, unions argue that typical annual pay rises are simply insufficient. Amid high vacancy rates and a low unemployment rate, workers are negotiating from a strengthened position.”

Doug Porter, BMO economist, said in a statement to Reuters the main takeaway is that the job market is still very tight.

“We’re still dealing with the lowest unemployment rate in at least 50 years, and wages that are running strong,” Porter said. “But from a growth angle the reality is employers are having trouble finding employees, and, so that caps the growth of the economy.”

Discover if You Are Eligible for Canadian Immigration

© CIC News All Rights Reserved. Visit CanadaVisa.com to discover your Canadian immigration options.

Adblock test (Why?)

728x90x4

Source link

Continue Reading

News

Grain farmers urge intervention as Metro Vancouver terminal workers ready strike

Published

 on

Canada’s grain farmers say a strike at Metro Vancouver terminals would cripple crop exports if it were allowed to take place.

The Grain Growers of Canada say in a statement that it is “deeply concerned” about a potential strike of grain workers in Metro Vancouver, since about 52 per cent of all Canadian-grown grain went to those terminals last year.

Grain farmers say a strike would “halt nearly 100,000 metric tonnes” of commodities arriving each day, potentially costing $35 million daily in lost exports.

The response comes after the union representing grain workers at terminals in Metro Vancouver said it has served their employer with a 72-hour strike notice.

The Grain Workers Union Local 333 says in a statement posted to Facebook that its strike will start at 7 a.m. Tuesday.

The Vancouver Terminal Elevators Association says affected operations include Viterra’s Cascadia and Pacific Terminals, Richardson International Terminal, Cargill Limited Terminal, G3 Terminal Vancouver and Alliance Grain Terminal, all located in Vancouver and North Vancouver.

“Grain farmers in the prairies rely heavily on the Port of Vancouver to handle and export the majority of the grain they grow,” the statement from the Grain Growers of Canada says. “Following last month’s rail work stoppages, this strike will have an equally devastating impact on grain farmers across the prairies who are in the midst of harvest.”

The group is also urging federal Labour Minister Steven MacKinnon to “use all tools available” to prevent a work stoppage from coming to pass.

“Without intervention, Canada’s international trading reputation will continue to suffer, leading to the loss of key global markets and customers,” the Grain Growers’ statement says.

In a separate release, the group representing Saskatchewan’s farmers echoed the national organization’s concerns, saying a strike or any similar work stoppages would be a “gut punch” to farm operators.

“Our farmers are again caught in the crossfire of labour disputes far from their fields, facing the consequences of halted grain shipments,” says Agricultural Producers Association of Saskatchewan president Ian Boxall.

“It’s high time for assertive government action to safeguard our supply chain integrity.”

Grain Workers Union Local 333 says the union’s bargaining committee made the decision to issue a strike notice after the Vancouver Terminal Elevators Association “invested very little effort” during negotiations last week.

The union says it’s now up to the employer to present a proposal for a new contract, and workers have provided a “comprehensive package” last Thursday with the association indicating the next day it had no counter offer.

It’s statement says the union’s shop committees will advise members of their picketing duties before the start of the strike Tuesday morning.

“You are required to leave the terminal at that time if you are working,” the statement says to workers.

“Your union will not bargain against itself,” the grain workers statement says. “We will await their proposal if, and when, it comes, and respond accordingly.”

A statement issued by the Vancouver Terminal Elevators Association says it concluded conciliation with the union with assistance from the Federal Mediation and Conciliation Service on Aug. 26.

It says it could not come to an agreement on a new contract and the union has been in a legal strike position since last Tuesday.

This report by The Canadian Press was first published Sept. 23, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Police say 3 dead, 3 hurt in crash near Kitchener, Ont.

Published

 on

Police in Waterloo Region say they are investigating a crash that killed three people and injured three others.

Police say a Tesla and a Dodge Ram collided Monday morning in Wellesley Township near Kitchener, Ont.

They say the 25-year-old Tesla driver, along with two of the car’s occupants, were killed and one passenger was taken to hospital with non life-threatening injuries.

The 28-year-old Dodge Ram driver and his passenger were also taken to hospital with non life-threatening injuries.

Roads in the area were closed for several hours as police investigated.

Anyone who may have witnessed the collision or have dash camera video footage is asked to call the Waterloo Regional Police Traffic Services Unit.

This report by The Canadian Press was first published Sept. 23, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

Man and woman from P.E.I. killed in head-on collision in New Brunswick

Published

 on

MELROSE, NEW BRUNSWICK – Police say a man and a woman from Charlottetown were killed Sunday afternoon when their minivan collided with a pickup truck in Melrose, N.B.

RCMP say the van collided head-on with the truck, which was hauling a trailer along the Trans-Canada Highway near the Confederation Bridge connecting mainland Canada with Prince Edward Island.

A news release says investigators believe the van was heading east when it crossed the centre lane of the highway into the path of the oncoming truck.

It says the 43-year-old male driver of the van and the 37-year-old woman in the passenger seat died at the scene.

Police say the driver and sole occupant of the pickup truck was taken to hospital with serious but non-life-threatening injuries.

The Mounties say officials will conduct autopsies on the man and woman to determine exactly how they died.

This report by The Canadian Press was first published Sept. 23, 2024.

The Canadian Press. All rights reserved.



Source link

Continue Reading

Trending