Canadian Job Creation at Highest Level Since 2007

The labour market in Canada continues to astound the country as its performance again skyrocketed in July 2017. Statistics Canada reports that unemployment
dropped to 6.3%, the lowest since October 2008. Ten thousand nine hundred new jobs were added to the labour market, and over the past year, there has been an increase of nearly 390,000 new jobs. This is the largest 12-month increase since 2007. Canadian Visa Expert is a team of experts and legal professionals who assist people who want to get a Canadian visa.

As the jobs increase, confidence in Canada continues to rise as well. Canadian Imperial Bank of Commerce chief economist, Avery Shenfield, spoke to a team of investors, “The tight jobless rate will keep chatter alive about an October rate hike.” Compared to the U.S. dollar, the Canadian dollar fell 0.3%, down to $1.2628. The U.S. dollar showed strength, and payrolls have increased by nearly 210,000. The jobless rate in Canada has now reached a new 16-year low, and in 2017, the currency of Canada is up 6.4%.

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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.” The desire of Canadian Visa Expert is to make your immigration to Canada an experience that is as simple as possible by providing you with options by our expert immigration specialists.

Wages in Canada rose by 1.3% in the past year, and hours work rose 0.6%. Brian DePratto, TB Bank economist gave his opinion, “Canada notched up an eighth straight month of job gains, but the details of the report were somewhat mixed,” he said. Over twenty thousand new jobs have been formed in the retail and wholesale trade sector, 14,000 new jobs in the manufacturing niche, and 18,000 new jobs within the information, and culture and recreation sectors. Contact Canadian Visa Expert for information on how you can get moved to Canada to begin a new life!