Quebec employment rates have been positive over the past three months, with February seeing over 66,000 people employed throughout the province.

With these developments, Quebec unemployment rate reached a historical low last month. At only 4.5 percent, this is the lowest it has been since 1976, when comparable Statistics Canada data first became available.

These last few months saw most youths, aged 15 to 24, finding jobs. At a declining 6.8 percent, the unemployment rate for this age group has also reached its lowest since 1976. 

As defined by Statistics Canada, the employment rate is the number of people with jobs over the age of 15 as a percentage of the population. For any particular group, the rate is the number of people employed as a percentage of the population of that group, such as youths aged 15 to 24.

The unemployment rate is the number of unemployed people as a percentage of the labour force, both employed and unemployed.

With more jobs available, low unemployment rates are ideal for job-seekers. Currently, many employers are under pressure to attract and retain talent. As such, periods of low unemployment are considered a job-seeker’s market.

As over nine million baby boomers retire from their jobs in the next decade, Canada is bound to experience even more labour shortages, and is turning to immigration to help support labour market needs.

During his ‘vision’ speech last week, Canada’s newest immigration minister Marco Mendicino estimated that about 80 percent of Canada’s population growth will soon be coming for immigration, and by the 2030s, he estimates that it may reach 100 percent. Mendecino expects the majority to be economic-class immigrants, in other words, foreigners moving to Canada for work.