The Canadian job market experienced some growth in the last quarter of 2023. Canadian Visa Professionals could confirm that more than 64,000 roles were filled in September 2023 as the new academic session began.
The hiring surge in Quebec and B.C. helped Canada’s economy offset a loss of 38,000 jobs in Alberta. With the hiring surge, more than 64,000 new workers were added.
Canadian Visa Professionals could confirm that the job gain was about twice as many as economists were expecting for the month. Although the larger percentage of the job gains were of the part-time variety, it is a good sign that the job market is so strong.
An economist’s opinion on the Canadian job market’s performance
According to Tu Nguyen, an economist with accounting and consultancy firm RSM Canada, the surge in part-time work would primarily be tied to the ongoing influx of immigrants.
In her words:
She continues, “Approximately 50,000 additional jobs per month are needed considering the immigration-driven population growth to keep the unemployment rate constant.”
According to Canadian Visa Professionals, the last quarter of 2023 numbers were on track to achieve balance and keep the unemployment rate constant. It also represents a more balanced job market where employers are able to find talent when needed.
Most of the job gains were concentrated in the education sector because schools were back in session that month.