May 19, 2020

[INFOGRAPHIC] 59,000 new jobs in Canada - What does this mean for the economy?

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[INFOGRAPHIC] 59,000 new jobs in Canada - What does this mean for the economy?

Originally released by the Hamilton Spectator, the Statistics Canada Labour Force Survey has recently revealed that in May, 384,700 people were employed in the local metropolitan area—that’s an astounding 0.9 per cent increase over May of last year.

However, what’s the real reason in this bump—and will it last?

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Business experts on the matter have put out warnings for all involved parties—workers, executives, even the economy—no one should get too excited about the results.

In fact, Trevor Chamberlain, a business and economics professor at McMaster University stated, “I don’t think any monthly increase is meaningful; there are seasonal variations.”

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Specifically, the employment rate usually increases during the summer months due to various factors, such as tourism and internships. And while this increase doesn’t quite warrant the word “trend,” a consistent trend in the increase of employment would not only be welcomed, but beneficial to the entire country.

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As stated, these statistics have been revealed by the Statistics Canada Labour Force Survey. The LFS comes out each month and releases various estimates of employment and unemployment rates.

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Take a look at the following infographic, which separates the numbers by a variety of categories, including sex and city.

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