Last Updated on January 3, 2018
January 1, 2018 – As 2018 begins, at least one economic indicator stands out in Canada from 2017. Both Quebec and Canada had an exceptional year in reducing unemployment and creating new jobs. Between November 2016 and 2017, Canada created 390,000 jobs, which represents an annual growth of 2.1%. For Quebec, at 78,000 jobs, the growth rate was slightly lower at 1.9%.
Ontario outperformed all provinces and territories with a job growth rate of 2.6% and a total of 180,000 new jobs created in the province.
The stellar performance was confirmed by the drastic fall in the unemployment rate as well. At 5.9% in November 2017, the national unemployment rate fell to the lowest level in a decade. Quebec reclaimed historical lows with its 5.4% unemployment rate last witnessed more than 40 years ago in 1976.
Along with favourable global and domestic economic conditions and other conventional factors, the recently-introduced Global Talent Stream, featuring a two-week standard processing, will complement the favourable employment environment for qualified employers seeking to access the foreign labour market.
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