The unemployment rate in Canada drops to its lowest in 2018

The unemployment rate in Canada drops to its lowest in 2018

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The unemployment rate in Canada was 5.6% in 2018 and was the lowest since 1976.

There were 78,000 more people employed in full-time jobs in Ontario in 2018. Ontario’s unemployment rate of 5.4% was the second lowest among Canadian provinces. The unemployment rate dropped by 0.2% in the province as compared to the previous year.

British Columbia had the lowest unemployment rate in Canada at 4.4%. There were 44,000 more employed people in the province in 2018. The employment growth rate in BC was 1.8% which is double that of Canada’s national average.

Saskatchewan had the best employment growth rate in the country at 1.9%. With 11,000 more employed people in 2018, the unemployment rate in Saskatchewan was 5.6%. There was a drop of 0.9% in the unemployment rate in the province.

Statistics Canada reported that 2018’s unemployment rate of 5.6% was the lowest since 1976, as per CIC News. The number of employed people in the country grew by 168,000 in 2018 at a growth rate of 0.9%. The increase has been attributed to the increase in the number of full-time jobs.

The maximum employment gains were recorded in the Service industry in Canada. This was followed by the health care and social assistance with an employment gain of 74,000. Business, building and other support services were in third place with an employment gain of 59,000.

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