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    FRANK LEO & ASSOCIATES

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    Canada’s Labour Market Transformed by COVID-19, Here’s What to Know?

    The Canadian job landscape is showing signs that it is transforming amid the pandemic and an election. On Friday, Statistics Canada released the number of jobs for the month of August. A poll of economists by Bloomberg displayed that the Canadian economy is ready to create more jobs.

    Statistics Canada reported in July that the economy generated 94,000 jobs which directly dropped unemployment by 7.5 per cent. The poll of economists displayed that job growth will continue with the fourth wave of COVID-19. Bloomberg estimates between 50,000 and 160,000 new jobs for the month of August.

    The governor at the Bank of Canada Tiff Macklem believes that the Canadian economy is heading back toward full employment this year and next. He spoke Thursday in French to the Quebec Chamber of Commerce and explained “It is clear that the pandemic has had a profound effect on the labour market.” Even with the higher unemployment rates, many reports say employers are complaining about vacant positions.

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