Canada’s job market stays strong despite economic challenges: report

A new report from the Conference Board of Canada, an independent research organization that analyzes economic trends, highlights the strength of Canada’s job market. Despite global uncertainties, Canada continues to create jobs, making it a promising destination for immigrants. In January alone, 76,000 new jobs were added, marking the third straight month of growth. The unemployment rate slightly dropped to 6.6 percent as more people joined the workforce, with young workers (ages 15 to 24) seeing the biggest job gains.

Where the jobs are

The manufacturing sector led the way, adding 33,000 jobs. The service industry also grew, with gains in professional, scientific, and technical fields (+21,700), accommodation and food services (+14,900), and transportation and warehousing (+13,200). Job growth was strongest in Ontario (+39,000), British Columbia (+23,000), and New Brunswick (+2,900).

However, wage growth has slowed. Over the past year, hourly wages increased by just 3.5 percent—the slowest pace since April 2022. This suggests the job market is stabilizing, making it easier for businesses to manage costs.

Economic challenges: trade and U.S. policies

Understanding Canada’s economy is key to career success for immigrants. One major factor is trade with the United States. Former U.S. President Donald Trump has proposed economic policies that focus on attracting investment to the U.S., including potential tariffs on Canadian exports. If tariffs are imposed, industries like manufacturing and automotive—both heavily reliant on U.S. trade—could see job losses.

While Canada recently avoided a trade dispute with the U.S., ongoing uncertainty means immigrants should consider jobs in resilient sectors less affected by international trade issues. Rather than competing with the U.S. for manufacturing investment, Canada is investing in knowledge-based industries such as technology, finance, engineering, and artificial intelligence. These sectors continue to grow and offer opportunities for skilled immigrants.