Quebec job levels have been rising over the last three months, and in February, about 66,000 citizens were employed in the province.
As a consequence of such progress, Quebec saw an extremely low unemployment rate of 4.5% last month. This is the lowest since corresponding data from Statistics Canada was easily available in 1976.
Any of the jobs went to young people aged 15 to 24. The rate of unemployment for this age group reduced to 6.8%, which is also the lowest rate since 1976.
The rate of employment, as described by Statistics Canada, is the number of workers over the age of 15 as a proportion of the population. The ratio for a demographic category is the number of people working as a proportion of the population in that community, such as young people between 15 and 24 years of age.
The unemployment rate is the amount of unemployed as a percentage of the workforce, both working and unemployed.
What flat rate of unemployment means for immigrants?
Low unemployment numbers are better for job-seekers, as it means that more positions are open to choose from. Employers are under pressure to recruit and maintain expertise. That’s why waves of low unemployment may be regarded a “job-seekers market.” Within the next 10 years, when more than nine million baby boomers retire from their employment, Canada will have more and more labour shortages. With not so much youth joining the workforce, Canada is transitioning to immigrants to sustain job market needs.
During his first big speech last week as Canada’s Minister of Immigration, Marco Mendicino projected that around 80 per cent of Canada’s demographic increase will come from immigrants and could hit 100 per cent by the 2030s. Most of these are supposed to be economic-class immigrants, that is, people coming to Canada for jobs.