The Canadian economy has been soaring especially since the beginning of January, 2016. The economy has been growing at a fast click with current pace being the fastest in five years; however, this has not resulted in any increase in new jobs in Canada. Canada has seen a drop of nearly 10,000 in non-farm payroll jobs, and the economic data indicating a loss larger than that recorded in earlier surveys..Downside, the industries are shedding jobs
Some of the industries like the Mining sector, Oil and Gas shed nearly thirteen percent of total jobs in Canada, which is a drop of about nearly 30,000, with most of the job losses stemming from Alberta. The industry also showed a dip in the wages by 5.7 percent. In the retail industry, approximately 1.6 percent jobs were lost in one month with a gain in wages by 0.4 percent.
In the management sector, 7,500 jobs were lost, as per StatsCan reports. The report registered a drop equaling 6.9 percent of all jobs in the field. Even with the boom in the housing sector in Vancouver and Toronto, the construction sector was down by a slim margin of around point one percent over the past year with a wage dip of 2.6 percent.
Even though the Manufacturing industries recorded higher sales in January, however, there were 6,200 fewer factory jobs, which as down by 0.4 percent. Some of the other industries that saw a dip in the jobs in Canada were Utility sector plus the Wholesale trade sector each showed a downhill by 1 per cent and 0.5 per cent.Brighter side - Industries creating jobs
There is a bright side to where there were industries which saw an unexpected uptick in jobs in Canada. Sectors from arts and entertainment to recreation saw newer jobs of about 21,600, which is an increase of nearly nine percent in one year.
The real estate sector was up by 4.2 percent with a wage gain of 0.8 percent. Forestry and logging industry, Healthcare and Social aid as well as Food and Accommodation industry were up by 2.6 per cent each.
The job fair was held in Winnipeg to promote job opportunities in several sectors however it did not meet the expectations of many job seekers in Canada. Some students who attended the fair expected to find jobs to pay towards College and University.
Overall, there are some of the industries that have seen a dip in the jobs while five others saw an uptick in new jobs, in the past year. So for prospective students, and economists alike, these facts should point the direction towards lucrative careers to choose from, while the economic data clearly points out which industries are stagnating while others are growing, at a fast click.
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