New Labour Force Survey Reports Are Out: British Columbia and Newfoundland Topping the Charts

According to New Labour Force Survey reports issued by Statistics Canada, 2 provinces of Canada naming, British Columbia and Newfoundland have added more jobs. This rise in employment opportunities or popularly known as employment gain has taken place in a span of 12 months, i.e. from October 2018 to October 2019. As per this report, Canada has added overall 443,000 new jobs with a national unemployment rate remained steady at a rate of 5.5 percent. Out of the total new jobs created by Canada, 15,000 net jobs are led by the province of British Columbia and 2,700 net jobs are led by the Newfoundland and Labrador provinces in the month of October. Statistics Canada stated that "this was driven by increases in full-time work for people aged 55 and over." This year, the British Columbia province has marked one of the lowest unemployment rates of 4.7 percent.

Which age group is benefitted the most?

According to Statistics Canada, the employment gain for people ageing between 55 years and above has increased by 187,000 net jobs in the last 12 months. For this age group, the unemployment rate has been 4.7 percent, marking a 0.2% drop in the overall percentage. While, if we talk about the employment gain for people ageing between 25 to 54 has further declined by 29,000 net jobs last month. The statistics Canada has also observed the changes in the employment rate for women employees. As per the reports, the employment rate has seen a little change for those women who are between 24 to 54 years of age and no change in employment for women who are between 15 to 24 years of age.

Which industry is benefitted the most?

The number of jobs in the manufacturing and construction sector has dropped down last month in October by 23,000 and 21,000, respectively. The manufacturing sector is the province of Ontario that has faced most of the losses, while the construction sector jobs have dropped down majorly in the province of Ontario and Quebec. There was a rise of 20,000 jobs in the public administration sector mostly in the provinces like British Columbia, New Brunswick, Prince Edward Island and Quebec. Employment in this sector has seen a rise of 7.6 percent in the past 12 months. Moreover, the sectors which have been benefitted with this employment gain also includes finance, insurance, rental and leasing, and real estate sectors. According to the reports of Statistics Canada, there was a rise of 18,000 net jobs in the above fields.

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