Unemployment Rate In Canada Drops To The Lowest In 6 Years

Unemployment Rate In Canada Drops To The Lowest In 6 Years

Canadian Job Market Adds 74,100 Jobs in September 2014

Canada is a growing job market, no wonder it has created 74,100 jobs in September alone. Trends show that Canada unemployment rate touched a six-year low of 6.8% compared to 7.0% all this while. The forecast by analyst predict that the unemployment will remain at 7.0% but the job creation numbers will go up in the months and years to come.

Statistics predict that Canadian job market has been volatile and the numbers are fluctuating almost every month, especially since November 2013.

The report published on Reuters says that the result of the current boost in jobs has helped the Canadian dollar in the market. “It has hit C$1.1160 to the greenback, or 89.61 U.S. cents, compared with Thursday’s close of C$1.1173 to the U.S. dollar, or 89.50 U.S. cents,” added the report.

Joe Oliver, Finance Minister of Canada, said “the government had been waiting to see a jump in job numbers because other parts of the economy were starting to grow. It seemed to us that there was a little bit of lag and we were waiting to see some confirmation of our views.”

Canada is likely to add more jobs for its people and for the skilled labour force that’s arriving from different parts of the world. It has invited about 25,000 applications from skilled individuals to apply for 50 positions. The federal skilled worker program is underway and is seeing a good response with over 5000 applications accepted so far.

Source: Reuters, The Chronicle Herald

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