Canada Adds 59,000 New Jobs in May! Overall Economic Recovery is Slow – Job Growth up 1% Over Last Year – 2015 is becoming a Job Seekers Market
Stats Canada job figures for May surprised many – Canada added 59,000 new jobs. Manufacturing, which has experienced significant job loss in the past decade, added 22,000 jobs in May bringing overall employment back to where it was in spring of 2014.
2015 will be known as the year of the crash in oil prices. Jobs in the oil, gas and mining sectors have been hit hard with some reports indicating nearly 20% job reduction in these sectors. The retail sector has also suffered job losses this year largely due to the withdrawal of Target from the Canadian marketplace.
Despite these set backs, job growth is up 1% over last year and unemployment is steady at 6.8% according to Stats Canada. The fall in the price of oil is dropping our dollar and finally our manufacturing sector can be competitive supplying products to a booming US economy. We are starting to see our non energy businesses produce jobs as well.
Industries Experiencing Job Growth in the last year:
- Health Care – 38,700 new jobs
- Accommodation and Food Services – 34,200 new jobs
- Professional, Scientific, Technical – 23,200 new jobs
- Education – 13,800 new jobs
- Construction – 13,600 new jobs
- Real Estate – 9,200 new jobs
- Wholesale Trade – 8,600 new jobs
- Finance and Insurance – 7,200 new jobs
- Transportation and Warehousing – 6,200 new jobs
- Arts and Entertainment – 4,800 new jobs
- Forestry – 1,400 new jobs
2015 is a Job Seekers Market
Employers are having trouble filling roles in science, engineering, technology and skilled trades. If you are looking to grow your team, using the services of a recruiter is a wise decision in this job seekers market. Quality candidates are cautious about leaving a secure position and generally this group of employees are not actively searching or applying to job advertisements. A recruiter can help target people who match your company needs and start a discussion with working professionals to help them understand the merits of your career opportunity.
