Canada's Economy continues to Recover: 240,000+ Jobs Added in August 2020 | REPORT

Canada continues to recover its economy during the Coronavirus. More Canadians are returning back to work during the coronavirus pandemic. Canada’s economic recovery is continuing.

Some 3 million jobs were lost following lockdowns introduced across Canada in March to contain the spread of the coronavirus. However, more people are now back to work.

In August, employment rose 1.4% for Canadians, rising to within 5.7% of pre-COVID levels.  Meanwhile, employment for landed immigrants was up 1.6% while employment for recent immigrants was up 2.2%, an increase driven mainly by the reduction in the population of recent immigrants due to lower newcomer arrivals during the pandemic.

The vast majority of the employment gains were in full-time positions.

Employment growth was concentrated in the services sector (+1.5%) as opposed to the goods-producing sector. 

This new report shows that Canada’s economic recovery is moving in the right direction. Nearly 1.9 million jobs have been recovered in recent months. In addition to the 246,000 jobs created in August, another 419,000 were recovered in July, and 1.2 million were recovered in May and June. 

Source: CIC

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