In July 2017, the labour market in Canada continues to perform at above-average rates. According to Statistics Canada, unemployment fell to 6.3%, which is the lowest since the fourth quarter of 2008, and 10,900 more jobs were added to the labour market. Over the past year, the total increase of jobs has reached 387,600, which is the largest twelve-month increase since 2007. Canadian Visa Expert is a team of professional and legal experts who are dedicated to helping people obtain a visa to Canada.
According to Avery Shenfield, chief economist at Canadian Imperial Bank of Commerce, “The tight jobless rate will keep chatter alive about an October rate hike.” The goal of CanadianVisaExpert is to make your Canadian immigration experience as simple as possible by providing you with visa options by our professional immigration specialists.
The Canadian dollar fell 0.3% to $1.2628 compared to its counterpart in the United States. The unemployment rate now matches a sixteen-year low, and the currency of Canada is up 6.4% in 2017. Shenfield also reported, “After a run of huge gains, nobody is going to complain about the more moderate hiring pace that Canada saw in July, and the attention instead will focus on yet another drop in the jobless rate.”
In addition, wages rose by about 1.3% in the past twelve months and hours worked increased 0.6%. TD Bank economist Brian DePratto reported, “Canada notched up an eighth straight month of job gains, but the details of the report were somewhat mixed,” he said. There were 22,000 new jobs in the wholesale and retail trade sector; 18,000 new jobs in the culture and recreation, and information
sectors; and 14,000 new jobs in the manufacturing sector. Contact Canadian Visa Expert today for information on how you can get started on your immigration journey to Canada!
