In November, there was a slight uptick in employment by 25,000, leading to a reduction in the employment rate to 61.8% in the labour market. This decrease was attributed to population growth outpacing employment growth. The unemployment rate rose to 5.8%, continuing its upward trajectory. The manufacturing and construction sectors experienced growth, while the wholesale and retail trade as well as the finance sectors saw declines. Employment increased in New Brunswick but decreased in Prince Edward Island, with minimal changes in other provinces. St. Catharines–Niagara and Oshawa witnessed the most significant increases in unemployment rates. Overall work hours declined by 0.7%, but average hourly wages showed a year-over-year increase of 4.8%. Recent immigrants encountered challenges in securing employment relevant to their credentials or overseas experience.
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Employment Trends in Key Sectors and Provinces
According to Statistics Canada, in November 2023, the manufacturing sector experienced a noteworthy rebound, adding 28,000 jobs (1.6%), compensating for the 19,000 jobs lost (-1.0%) in October. This surge contributed to a year-over-year growth of 2.4% (43,000 jobs), aligning with the overall annual employment growth across all sectors at 2.5% (499,000 jobs). Meanwhile, the construction sector saw a positive trend with a 1.0% increase (16,000 jobs) in November, building on the 1.5% growth (23,000 jobs) in October. Despite declines in construction employment earlier in 2023, October and November gains brought employment levels close to the peak observed in January 2023.
Provincial Employment Dynamics and Shifts in Work Arrangements
According to the findings published by Statistics Canada, the labour market in New Brunswick continued to thrive, witnessing a monthly increase of 0.6% (2,400 jobs) in both October and November 2023. Over the 12 months leading to November, the province experienced a robust 4.0% (15,000 jobs) growth in employment, accompanied by a decrease in the unemployment rate to 6.4%, down by 0.8 percentage points from November 2022. Conversely, Prince Edward Island faced a setback, with a decline of 1.4% (-1,300 jobs) in November, resulting in an increased unemployment rate of 8.1%, up by 1.9 percentage points. The province of Quebec saw little change in employment in November, following a decrease in October, accompanied by a 0.3 percentage point increase in the unemployment rate, reaching 5.2%. Notably, the broader employment landscape saw a shift from remote work, with a decline in the share of exclusively home-based workers from 24.3% in January 2022 to 12.6% in November 2023, while the prevalence of hybrid work arrangements tripled, rising to 11.7% in the same period. This transition was particularly notable among parents, with 30.1% of those with children aged five or younger adopting work-from-home or hybrid arrangements.
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