May Flowers & Career Powers: Canadian Employment Trends
In April 2023, employment in Canada reached 20,130,000. This is accompanied by a slight but notable 0.2% rise in the employment rate, suggesting a steadfast pattern.
Canada's job market has shown an enduring upward trend, displaying consistent and unwavering growth since September 2022. In particular, the employment statistics for April were noteworthy, with a significant addition of 41,000 individuals employed, further solidifying the optimistic trend in the Canadian labour market.
Moreover, when comparing year-over-year data, the average hourly wage experienced a substantial 5.2% increase, reaching $33.38 in April.
The unemployment rate remained steady at 5.0% for the fifth month in a row in April, which is slightly higher than the historic low of 4.9% recorded in June and July 2022.
Employment Gains by Industry
The wholesale and retail sector experienced a surge of 24,000 employees, effectively counterbalancing the overall decline of 145,000 employees recorded between May and December 2022.
In March, the transportation and warehousing industry saw a rise of 17,000 employees, contributing significantly to the remarkable increase of 41,000 employees.
April witnessed a notable boost of 16,000 employees in the information, culture, and recreation sector.
Employment in education services witnessed a growth of 15,000 employees, continuing its upward trend since August 2022. The cumulative gains over the span of eight months reached an impressive total of 71,000.
The health care and social assistance industry maintained steady employment levels and held the position as the second-largest industry in terms of workforce size in April, following wholesale and retail trade.
Employment in professional, scientific, and technical services remained stable for the fourth consecutive month. On a year-over-year basis, the industry experienced a 3.8% increase, totalling 68,000 employees, reflecting the upturns observed during the spring and fall of 2022.
Growth Led by Provinces and Territories
The province of Ontario took the lead in employment growth, closely followed by Prince Edward Island.
Ontario experienced a significant surge in employment with a rise of 33,000 individuals in April. The cumulative gains in employment since September 2022 reached an impressive 205,000. Over this period, full-time employment increased by 122,000, while part-time employment saw a growth of 82,000. Additionally, the unemployment rate declined to 4.9%, marking its lowest point since October 1989.
In Prince Edward Island, employment saw a rise of 2,200 individuals in April, marking the fourth consecutive increase since January.
April Showers to May Hires: Hiring Trends
The Canadian job market has been experiencing notable shifts in recent times, and as a leading staffing agency, we are at the forefront of observing and analyzing these trends. Here are some key insights into the current hiring landscape in Canada.
Tech Talent Domination:
Technology continues to shape industries across the board, and the demand for skilled tech professionals is skyrocketing. From software developers and data analysts to cybersecurity experts and AI specialists, companies are actively seeking top talent to bolster their digital capabilities. With the rapid pace of digital transformation, the Canadian job market is ripe with opportunities for individuals with tech expertise.
Soft Skills in High Demand:
While technical skills remain crucial, employers are placing equal importance on soft skills. Adaptability, communication, problem-solving, and collaboration are highly sought after. Employers recognize the value of individuals who can thrive in dynamic work environments, communicate effectively across teams, and bring innovative solutions to the table.
Diversity and Inclusion in Focus:
Diversity, equity, and inclusion (DEI) have gained prominence in the Canadian job market. Employers are actively seeking diverse candidates and prioritizing inclusive recruitment practices. Companies understand the value of diverse perspectives and the positive impact it has on innovation and productivity. As a staffing agency, we are committed to fostering DEI in the hiring process and connecting diverse talent with inclusive organizations.
The Canadian job market is witnessing a surge in demand for tech talent, highlighting the importance of staying updated with technological advancements. Soft skills have gained significant recognition, underscoring the need for candidates who possess a well-rounded skill set. Moreover, embracing diversity and inclusion is no longer an option but a necessity for organizations looking to thrive in the evolving Canadian market.
At Bevertec, our commitment lies in connecting exceptional talent with employers, playing a pivotal role in fostering positive transformation within the Canadian job market. We are driven to bridge the divide and align top-notch professionals with forward-thinking organizations, fueling progress and innovation in the ever-evolving job market.