According to the recent reports, 11,000 new jobs have been added by Canada in the month of July. This was something economists were expected too.
As per the numbers that where released on Friday, it has been seen that the job market has shrink in Newfoundland and Labrador, Prince Edward Island and Alberta. However, in the province of Ontario and Manitoba the job market has expanded.
When we take a look at the overall analysis, not many jobs have been added in this month. Moreover, there has been a decrease in the number of people looking for jobs. This has pushed down the jobless rate from 7% to 6.3%.
It is worth noting here that this jobless rate has been the lowest ever since October 2008.
In the month of July more than 35,000 full time jobs have been added to the Canadian economy.
The increase in the job market of Canada has been balanced slightly by the decrease in the number of part time jobs which stood at 24,300.
The July figures also shows that more than 38,700 new jobs have been added by Canada in the past 12 months. These number are much better when we take a look at the past decade.
With the increase in the number of jobs, there has been an increase in wages as well. In the past 12 months wages have increased by 1.3%.
Hourly working has also increased by 0.6%.
Overall, it is a good scenario for those who want to immigrate to Canada and make this country their new home.