New full-time jobs in Canada saw an increase of close to 90,000 positions and 78,600 employee jobs in the private industry. The unemployment rate decreased to 5.6 percent, an all-time low. The survey by Statistics Canada showed a total of 94,100 net jobs for the greatest monthly rise since 2012 when there was an increase of 94,000 positions. If you are considering relocating for a job opportunity, contact Canadian Visa Expert for help with the process. Their team of professionals is dedicated to helping people receive the required visa to live and work in Canada.
The head of macroeconomic strategy at Manulife Asset Management, Frances Donald, agreed that headline Canadian job growth is going very strong. The Bank of Canada is watching the wage growth ahead of making an interest-rate decision. In response to Canada’s robust economic performance, the Bank has increased the rate five times since 2017. Even though the Governor has mentioned additional increases will be needed to maintain inflation, he stayed the rate at 1.75 percent. Donald said, “Canadians need more wage growth to offset higher interest rates.” She said wage growth needs to match the pace of inflation so households can absorb the Bank of Canada’s increased rates. There are many opportunities in Canada for you and your family. Contact Canadian Visa Expert for help applying for the correct visa to live and work in Canada. Their team of experts will walk you through the steps of immigration and help you understand the point system and how professions are assessed.