Labor Market
As in other regions of Canada, the province of NL has had some casualties in recent years due to the pandemic, but the job market has shown significant improvements in some sectors in recent months
Overall, the employment rate rose above pre-pandemic levels (+3800 jobsbiggest increase in 1 year). For the age group of 25 years and over, there were 4500 new jobs and women had a greater participation in February, however the unemployment rate had little change, although job opportunities increased, demand also increased.
The unemployment rate for young people (from 15 to 24 years old) has dropped to the lowest level since May 2016 and for this age group there are 7,000 new jobs compared with 1 year ago.
Most industries showed an increase in the number of job opportunities, led by the educational services sector (+2,600), information, culture and recreation (+1,600), and professional, scientific and technical services (+100) which, although showing little change, hit a record employment, led by the information technology industry.
Why choose Newfoundland e Labrador to live?
Newfoundland & Labrador is very welcoming to immigrants and welcomes 1700 immigrants a year and expects to deliver 5100 PRs by 2026
NL supports multiculturalism and diversity and invests in retaining these talents. Proof that the province is engaged with this social, economic and cultural interaction of newcomers and the NLMGP (NL Multiculturalism Grant Program) program, which provides support and funding to non-profit, non-governmental and community organizations to plan and host events and activities that highlight cultures, intercultural discussions and bridge the gap between communities of various origins to tackle racism and
discrimination.
The province knows that the key to its development is immigration, as the local population is aging and the birth rate is decreasing. It is projected that by 2025, the province will experience a 10% decline in its working age population, resulting in 35,000 fewer people in the provincial labor market.
In addition, NL has an action plan to encourage the recruitment and retention of immigrants through partnership with the federal and Atlantic government, educational institutions, communities, community organizations and service providers and improving existing resources and processes through monitoring surveys.
