Statistics Canada reported employment gains of 150,000 jobs in January 2023, mostly in full-time work. The recent job gains in Canada are 10 times more than the expected projections among economists in a Bloomberg survey and are further expected to increase the demand for foreign skilled workers.
Canada is witnessing rapid population growth because of an open policy on immigration, and the survey data confirms that non-permanent residents – including students and temporary workers – are seeing outsized job gains.
Five Canadian provinces including Ontario, Quebec, and Alberta created more jobs during the period. Employment in the goods-producing sector grew by a net 25,400 jobs, largely in construction. The services sector was up by a net 124,700 job positions, mostly in wholesale and retail trade, as well as health care and social assistance.
The labor force report held the unemployment rate in Canada steady at 5.0%.
Canada Continues to Face Labor Shortage
January marked the fifth consecutive month of job increases in Canada, bringing the total number of new jobs created since last September to 326,000.
Despite increased payroll hiring, highest performing sectors like Healthcare and social assistance, Construction, Professional, scientific, and technical services continue to face skilled labor demand shortages.
Experts believe that immigration will be crucial to address these labor shortages, as Canadian demographics currently cannot support filling current job vacancies.
The government is already working in this direction with the ascension of Bill C-19 which would allow IRCC to welcome eligible foreign workers in the federal Express Entry pool based on specific criteria such as the occupations, education, or language ability of candidates) and issue invitations to apply (ITAs) for Canadian permanent residence.
Following this, Immigration, Refugees, and Citizenship Canada (IRCC) held an exclusive Federal Skilled Worker-Only Express Entry draw for the first time since its introduction in 2015.
Take this free assessment online to determine your eligibility to work in Canada.
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