Workers in Canada are earning more money, with hourly wages increasing 5.4% in June on a year-over-year basis, up from 5.1% in May and 4.7% in April.
That’s an extra $1.79 per hour compared to last year, towards an average hourly wage a touch under $35.
Key Takeaways for Anyone Considering Moving To Canada
Wages are up, and the rate at which they are increasing is accelerating and outpacing inflation.
The average hourly wage is now $34.91 (up $1.79 since a year ago)
Unemployment has increased to 6.2%, up 0.2 points from May 2024 and 1.3 points from April 2023.
Canada lost 1,400 jobs in June.
More workers are playing it safe in the job market, with fewer switching jobs.
Check your eligibility for more than 20 different Canadian immigration programs by taking Moving2Canada’s free Canada Immigration Quiz.
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Not bad, right? But remember that the wage you earn in Canada doesn’t reflect money in your pocket because different levels of government take a chunk in the form of income taxes, among other payroll deductions. Someone earning $35 per hour in a salaried role in Ontario (Canada’s most popular newcomer destination province) and enjoying 20 days of paid time off annually would net a salary of just under $50,000 from a gross income of more than $63,000, assuming a 40 hour work week. Depending on location, responsibilities, and habits, this may be a great income for some people, while others might struggle to make ends meet.
So, should workers just get a better paying job in that case? This is often easier said than done. Canada’s latest Labour Force Survey for June 2024 revealed that unemployment has ticked up to 6.4%, up a full 1.3 percentage points since April 2023. The number of jobs in Canada actually fell in June, down 1,400 from May.
Another consideration is that as the unemployment rate has increased over the past year, so too has the proportion of long-term unemployed. Among the unemployed, 17.6% had been continuously unemployed for 27 weeks or more in June 2024, up 4 percentage points (or close to 30%) from the baseline a year earlier. This suggests job seekers are having more difficulty finding jobs in a challenging labour market.
It’s no surprise then that ‘The Great Resignation’ has given way to ‘The Big Stay’, as reported in the Financial Post last month. The job switching rate has decreased by more than 40%, from 0.69% of workers per month switching prior to the pandemic in 2019 to 0.41% more recently. More workers are choosing security where and when they can.
Moreover, recent Labour Force Surveys show that when Canada does net new jobs — and remember Canada actually lost jobs in June — a significant proportion of those new jobs are either part-time or in government roles (i.e. in the public sector), where hiring processes are typically long and positions may not be available to those on temporary status. Newcomer professionals seeking a high-income, full-time, secure role in the private sector will usually need to work hard just to identify such opportunities, let alone win an interview and get hired (first step: you can download a wonderful interview-winning resume template with a free Moving2Canada account).
And if you have such a role right now, consider joining ‘The Big Stay.’
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Expert resources to help immigrants get jobs in Canada
Canada’s job market provides a wealth of opportunity for newcomers, but it is only that — an opportunity.
To take full advantage, recent and prospective immigrants can leverage free government-funded resources and programs. We recently partnered with Canada InfoNet, a government-funded pre-arrival employment support program, to bring you two expert guides on transitioning to a career in Canada:
The outlook on Canadian construction and infrastructure
Ruairi Spillaine, Outpost Recruitment and Moving2Canada founder, analyzes what’s happening in the construction sector in Canada.
“”Canada is working hard to address shortfalls in construction talent so they can solve the nation-wide housing shortage. Recent initiatives include STEM-focused Express Entry draws for construction professionals with engineering backgrounds. Canada’s aggressive home building plan will undoubtedly rely on quality global construction talent”“
Moving2Canada and Outpost Recruitment Founder, Ruairi Spillane
If you are interested in working in Canada’s construction sector, Outpost helps motivated candidates find suitable jobs in Canada.
The agency works with general contractors, subcontractors, developers, and consultants who are hiring across senior management, operations, project management, site, design, quality, and commercial personnel.
Outpost Recruitment is actively looking for candidates for projects across Canada. View the latest job postings here.
How to take advantage in Canada’s job market
The Moving2Canada team has a special feature for people who want to get a job in Canada or accelerate their career here. Readers can now opt in to hear from recruiters and employers we partner with and upload a resume to their account, all for free.
We’re excited to help more newcomers and people wishing to move to Canada in their career goals.
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How to get a job in Canada
If you’re looking for a job in Canada here are some steps you can take to land that sweet, sweet Canadian job offer.
Get your resume in good shape. This crucial step is often left down the list of job seekers’ priorities, despite being arguably the most important step of all. Read our Canadian resume guide to get going.
Build your network. You can assemble a team to help you in your job search. With ongoing physical distancing and travel restrictions, technology is your friend here. Read our networking guide, written by award-winning entrepreneur Ruairi Spillane, for expert advice.
Here’s a popular webinar from recruitment expert and Moving2Canada founder, Ruairi Spillane, about how to create the best resume for the Canadian jobs market:
New and improved Jobs Board
We have worked hard over recent weeks to ramp up the number and range of job postings on our Jobs Board.
We also have a number of other resources for helping you find your career in Canada. You’ll find broad-stroke information that will arm you with the knowledge you need to succeed, as well as industry-specific insights into finding jobs by industry, such as teaching.
As the founder and CEO of Moving2Canada, Ruairi has been advising newcomers on how to immigrate, settle, and succeed in their new lives in Canada since 2011. He is a frequent contributor to discussions on Canadian immigration and has earned several recognitions for his expertise in the immigration space.
CitationSpillane, Ruairi."Labour Market Update: Labour Market Update: Wage Growth Accelerating in Canada, But It’s Not All Good News."Moving2Canada.Last modified July 7, 2024.https://moving2canada.com/work/finding-jobs/labour-market-report/.
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