Canada Job Market gained 32,000 Jobs in June 2018

Canada Job Market gained 32,000 jobs in June 2018 that was larger than the expectations. The rate of unemployment was 6% as increased numbers of people are looking for jobs. These latest statistics have been revealed by Statistics Canada.

Avery Shenfeld Chief Economist at CIBC Capital Markets said that June month witnessed strong growth of jobs. This along with the higher rate of unemployment is the best scenario for Canada, he added, as quoted by the CIC News.

The Labor Force Survey of Statistics Canada has revealed that the rate of jobless increased to 6% from 5.8% in May. This is the first time it has crossed the 6% barrier after October 2017 when it was 6.2%.

The rate of unemployment increased in June in spite of the addition of fresh jobs. This was because of the entry of 76,000 extra people in the Canada Job Market.

The report also observed that the average growth of hourly wages remained strong in June with 3.6%. This is closely kept track of by the Bank of Canada. Detailed analysis of the June month reveals the addition of 9,100 full-time Canadian jobs. Meanwhile, 22,700 part-time jobs were added.

34,900 jobs were added by the Ontario province. This was an increase of 0.5% when compared with May 2018. On the other hand, Saskatchewan added 8,300 jobs. This was its largest monthly gain in the last 6 years represents a growth of 1.5%.

The rate of unemployment in the youth increased to 11.7% in June from the 11.1% in May.

Y-Axis offers a wide range of visa and immigration services as well as products to overseas immigrants including Work Visa for Canada, Canada Migrant Ready Professional Services for Express Entry Full Service, Canada Migrant Ready Professional Services for Express Entry P R Application,  Canada Migrant Ready Professional Services for Provinces, and Education Credential Assessment.

If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

If you found this blog engaging, you may also like…

How to prepare for an Overseas Graduate Job interview?