What is the unemployment rate in Canada in 2021?

November 13, 2021by Micah Shaw

What is the unemployment rate in Canada in 2021?

This past Friday several Canadian newspapers reported that employment increased to 90,000 (+ 0.5%) in August, this being the third consecutive monthly increase in the country, placing the unemployment rate below 0.4 percentage points of up to 7.1%.

The unemployment rate

The unemployment rate fell 0.4 percentage points to 7.1% at the end of August, this being the lowest rate since the beginning of the pandemic.

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Canada’s unemployment rate has been trending again, obtaining in September 0.2 percentage points of up to 6.9%, reported Statistics Canada.

The Canadian unemployment rate declined for four consecutive months.

The number of workers in the private and public sectors, last year was above the levels of February 2021, while private work remained 8.5 percent, below its usual level before the pandemic.

The increases in employment in August were focused on full-time jobs, reaching levels of (+69,000; + 0.4%).

These increases occurred especially in the service industries, managed by lodging and food services, and were distributed among different statistical groups. It has been seen that the economy has improved a little, despite the pandemic that is hitting us, this was taken into account so as not to let the economy decline and thus maintain a stable equity.

Total hours worked had little change and was 2.6% below its pre-pandemic grade.

Among employees who worked at least half the traditional hours, the proportion who work from home fell 1.8 percentage points to 24.0% at the end of August, this being the lowest proportion since the beginning of the pandemic.

Employment increased in the service sector for three consecutive months, obtaining statistics in August of (+93,000), managed by earnings in lodging and food services (+75,000), culture, recreation and information (+24,000).

The number of people working in construction increased (+20,000; + 1.4%) for the first time in Canada’s economic history since March 2021.

An increase in employment could be seen in cities such as: Ontario, Saskatchewan. Alberta and Nova Scotia. The other provinces did not register significant changes.

Considering that the unemployment rate is comprised in ages 15 to 69 who belong to populations designated as minorities, percentages of 9.8% in the month of August.

Long-term unemployment fell to 29,000 (-6.7%) to 395,000 in August.

All these drastic changes in unemployment in Canada have been due to the pandemic, it is expected that next year, these levels will be more favorable, since there are sectors, which have been harmed, it is estimated that for the month of December These levels continue to decline, only in this way it can be deduced, if the economy will reach its most optimal levels.