Employment Rises
Canadian employment in August rose by 40,000, marking a 0.2% increase. However, this growth was overshadowed by the population surge of 103,000, causing the employment rate to decline by 0.1 percentage points, settling at 61.9%. Notably, the employment rate’s decline indicates that job growth hasn’t matched the pace of population expansion. For context, from 2017 to 2019, the monthly average growth of the population aged 15 and older was 38,000. During that period, monthly employment gains of approximately 25,000 were necessary to maintain a steady employment rate.
Demographic Shifts in Employment
Employment trends varied across age groups. Core-aged individuals (25-54) witnessed growth, with men seeing a 33,000 increase and women experiencing a 21,000 rise in jobs. In contrast, employment dwindled for women aged 55 and above by 27,000. The youth employment scenario was…
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