WWICS Blog

Not Just More, But Better Paying Jobs in Canada: CIBC Report
Posted: 25 May 2011

Since the recession ended, Canada has maintained a strong employment record and has been amongst the strongest in the industrialized world. In tune with the growth of the country, the latest employment quality index of Canadian Imperial Bank of Commerce (CIBC) brings forth that the Canadian economy is not only creating more jobs, but is creating ‘better jobs’.

The bank’s report highlights that in the last 12 months, an increase in the full-time and paid employment has been witnessed as against self-employment. Furthermore, the employment quality index has increased by 2.7%.

The improvement in the index has been seen due to the 283, 000 jobs created in the last year, which were generated in the high-paying sectors like manufacturing, finance, construction and public service. The growth in full-time jobs has surpassed the part-time jobs by more than two-to-one and the well-paying jobs in manufacturing, construction, the financial sector and government outnumbered the low paying jobs three-to-one.

The robust growth of Canada has also got thumbs up from the Organization for Economic Co-operation and Development, which projects that Canada would continue to be a forerunner in the economic recovery.

In the wake of the outcome of the bank’s report, Col. BS Sandhu (Retd.), CMD, WWICS Group said, “the strong growth of the Canadian economy yet proves the popularity of Canada as an immigration destination for aspirants. The high-paying jobs, the excellent lifestyle and the picturesque views add to the attraction, luring more & more immigrants every year.”

He added that despite the recession, Canada has bounced back in an even bigger way and has maintained its economic development, thus consistently being an attractive immigration destination.