Canada is one of the countries in the world that is in the middle of things when it comes to unemployment rate. As of now, its unemployment rate is around 6.5%. Canada’s unemployment rate is 1.2% higher than the United States and 0.9% higher than United Kingdom. Meanwhile, Zimbabwe has the highest unemployment rate at 70% and Qatar has the lowest at 0.3%.
Four years ago, Canada was ranked second when it came to employment rate in the G7. Canada had an employment rate of 72%. Germany was in the top spot. G7 is a group of the most economically advanced and wealthy countries in the world, and it is composed of Canada, France, Germany, Italy, Japan, the United Kingdom, the United States of America, and the European Union.
However, it is important to note that among the G7 countries, Canada has the least population. According to recent reports, Canada has a population of 35,467,000 people.
On the other hand, the average employment rate for the OECD (Organization for Economic Co-operation and Development) is at 64.8%. OECD is an organization that aims to strengthen world trade and economic progress. The organization has 34 countries as members.
Status From Local Business Directory Canada
Despite being situated in cold lands, the country has done a good job in maintaining the supply and demand of employment. However, for the past few months, the unemployment rate has been steady at 6.8%, according to a local business directory Canada.
Even if Canada recently experienced a sudden hit on its labor force (6,400 jobs were lost recently), it was still able to maintain its unemployment rate. Although the country was able to generate 65,000 full-time jobs, it was offset with the loss of 71,000 part-time jobs. However, the increase in the number of full-time workers nudged the employment rate by 1%. This has led to an additional of 2.1% work hours for the workforce.
Currently, Canada is experiencing multiple changes with regard to employment trends. Recently, both unemployment among young men (15 to 24 years of age) and employment among older adults (55 years old and above) increased.
Public administration experienced a rise in new employees while no changes happened in the private sectors. However, employment in support and domestic services decreased.
Single mothers, housewives, and working moms have been steadily gaining a large traction in the labor workforce. Three decades ago, only 31.4% up to 46.4% of women with children were employed. Now, 67.8% up to 79% of women with children are employed in Canada.
As of now, Alberta is the leading region when it comes to employment rate. On the other hand, employment and tenure in Labrador and Newfoundland have become issues. More adults are finding it difficult to find and keep a job in those two regions according to local business directory Canada .
As of now, the highest paying jobs in Canada according to a local business directory Canada are:
- Airline Pilots
- Engineering Managers
- Communications and Finance Senior Managers
- Construction, Transportation, Utilities, and Goods Production Senior Managers
- Family Physicians
- Specialist Physician
On the other hand, the lowest paying jobs in the country according to a local business directory Canada are:
- Domestic Helpers
- Service Station, Kitchen, and Food Counter Attendants
- Harvesting Laborers
- Sewing Machine Operator
The highest paying job is specialist physician. The salary for this job can go over $375,000 annually. The lowest paying job is domestic helper. The salary for this job can go as low as $19,750 annually. The average Canadian earns $49,000 annually.
The industries that might experience good growth in the following years according to a local business directory Canada are:
- Financial Management
- Securities Dealing and Investment Banking
- Public Relations
- Management Consulting
- Health Care
- Organic Chemical Manufacturing
- Circuit and Semiconductor Manufacturing
The jobs that are declining and will probably decline more in the next few years according to a local business directory Canada are:
- Sewing Machine Operators
- Postal Servicer
- Fast Food Service Cooks
- Typist and Data Entry