Canada added 22,200 jobs in August, and the unemployment rate dropped 0.1 per cent to 6.2 per cent. The most recent Statistics Canada Labour Force Survey revealed this matches the lowest reported rate since October 2008, just before the start of the 2008-2009 labour market downturn.
Highlights in August
- An increase in the number of people working part time (+110,000) was mostly offset by a decline in the number of people employed full time (-88,000).
- In the 12 months to August, employment rose by 374,000 (+2.1 per cent), with gains in both full-time (+213,000 or +1.5 per cent) and part-time work (+161,000 or +4.6 per cent).
- Adjusted to U.S. concepts, the unemployment rate in Canada was 5.3 per cent in August, compared with 4.4 per cent in the United States. In the 12 months to August, the unemployment rate fell by 0.6 percentage points in Canada and by 0.5 percentage points in the United States.
Ontario led provincial employment gains in the month of August:
- In Ontario, employment rose by 31,000 in August, the third increase in four months. The unemployment level fell 0.4 per cent to 5.7 per cent, the lowest it’s been since January 2001.
- Employment in Alberta held steady, but compared to 12 months earlier, employment in the province rose by 1.5 per cent (+34,000), primarily in full-time work. The added employment over this period was driven by gains in transportation and warehousing, manufacturing, and natural resources.
- Overall, employment in Quebec was also little changed. However employment rose by 93,000 (+2.3 per cent) in the 12 months to August, , and the unemployment rate fell by 0.9 per cent to 6.1 per cent.
Hiring Trends and Career Tips
Robert Half recently released the 2018 Salary Guides, which not only detail local salary ranges for hundreds of positions across Canada, but also pinpoint the key drivers that motivate Canadian professionals to search for or accept a new role.
The employment market is constantly shifting, and so are the needs and expectations of employees and employers. But with an unemployment rate matching the lowest it’s been in nine years, demand for skilled talent remains strong, and professionals are increasingly more discerning in their job selection. Which means companies seeking skilled workers must be prepared with a hiring package that can adapt to the preferences of those they’re hoping to bring on board.
As employees’ attention increasingly shifts to improving work-life balance, companies are focusing more attention on well-being and providing a supportive work environment to retain their best people. Here’s a sneak peek at what professionals today want from their employers:
- Compensation: Focus is on the whole package, not just the salary. People are asking more detailed benefits questions, especially when it comes to healthcare coverage and family benefits. If a person has multiple offers, this can be a deciding factor.
- Cost of Living: Rising housing prices and other living costs are top of mind. Workers ask: Can I live comfortably and enjoy a good quality of life if I take the role?
- Career Path: People are asking more detailed questions about ways to learn and advance in the organization. Is promoting from within the exception or the rule? What training and development opportunities are available?
Check out the 2018 Salary Guide press release for a full look at what it takes to attract top talent.