Canada’s unemployment rate in the third wave of Corona

The latest reports indicate that Canada‘s employment rate has dropped in the middle of the third wave of Corona in this country.

With the continuation of the corona restrictions in order to maintain the health and safety of Canadians against the corona virus, Canada’s employment rate decreased for the second time in a month. Statistics Canada’s latest report from May 9 to May 15 examines labor market conditions and changes by demographics and geographic region.

Canada lost 68,000 jobs in May, about 79% of which were part-time. The provinces of Ontario and Nova Scotia have had the largest share in these unemployments because the special corona measures in these two provinces have caused the closure of many unnecessary businesses.

Earlier this month, both Alberta and Manitoba closed personal care services, recreation centers and restaurants. They also limited the capacity of retail stores and closed classroom classes in schools. New Brunswick and Quebec were among the pioneers in having corona restrictions.

Reducing the employment rate of new immigrants to Canada

The employment rate of new immigrants to Canada, which includes immigrants who came to Canada within the last five years, decreased by 2.1 percent. This is while the employment rate of people born in Canada has decreased by 2% even compared to the rate of the pre-corona period.

The employment rate of immigrants who came to Canada only within the last five years was 11.2% lower in May than in February 2020. The population of this category of immigrants has decreased by 15% due to the corona restrictions, and as a result, the rate of immigration to Canada has reached its lowest level since 1998.

Since the population of immigrants to Lorud has decreased more severely than the decrease in their employment rate, the employment rate of this category of immigrants has continued to rise and has increased by 2.8% compared to February 2020.

Unemployment is high among Canada’s visible minorities

Canada’s overall unemployment rate was little changed at 8.2 percent, but unemployment rates were higher among racial minority groups.

The unemployment rate of Canada’s visible minority has increased to 11.4%, while the unemployment rate of white Canadians has been 7%. The unemployment rate of the Asian minority has increased the most. According to the report, Chinese Canadians have the highest unemployment rate. Among Canadians of South Asian descent, the unemployment rate is 10.8%, and the unemployment rate of Canadians of Filipino descent is 10%.

The increase in the unemployment rate of Asian Canadians, especially the Chinese, is due to the Corona epidemic and the increase in racial tensions against Asians. Anti-Chinese and anti-Asian sentiments have increased in Canada since the corona virus was discovered. In Vancouver alone, hate speech against Asians has grown by 717%.

Student employment rate in Canada

Student employment in Canada 2021 has been better than Canada 2020, but still lags behind 2019. Last month, the unemployment rate of youth between 15 and 24 years old was 3.1%, while in May 2020 this figure was 40% and in May 2019 this figure was 13.7%.

As Statistics Canada has announced, returning students are young people between the ages of 15 and 24 who studied full-time in March and intend to continue their studies in September.

The future of the Canadian economy in the summer of 2021

Canada’s economy is expected to improve in June, this month. With the end of the third wave of Corona and the vaccination of more Canadians, the restrictions will be lifted. Ontario has lifted its stay-at-home order; British Columbia has also resumed many indoor and outdoor activities, and Quebec has also canceled the nighttime quarantine.

Canada had a significant economic recovery in the summer of 2020. The difference between May and June last year in terms of job opportunities was 1000. Now that about 75% of Canadians are expected to be vaccinated by the end of June 2021, we can consider a normal summer for the Canadian economy.