MORTGAGE Blog & ARTICLES
The Canadian Job Market is not promising something
Due to the low rates on mortgages, these are potential factor that drive up the housing market. The loans with lower interest rates may still not keep up with the home sales. This is linked to the employment outlook of Canada. If the employment does not improve, things will be the same.
Based on the Conference Board in Canada, the job prospects in seventeen metropolitan areas fell in the month of September. Only three of these cities have witnessed a huge improvement. Even though the economy generated sixty-one thousand jobs, the predictions of the financial experts are a slow growth in the economy. The future led businesses in rethinking and replanning their hiring strategies.
Canada has its housing industry that remains to be strong. Especially because of the increase in the construction, this helped in boosting the industry. Several experts forecasted the weakened market on residential properties. On the part of Canadian citizens, they need to be careful and should pay attention to the less employment opportunities.
The labor market in Canada has been strong at this year. However, the issues that affect Europe and weak recoveries in the United States also have their impact in the labor market. The economy of Canada also relies on the exports. It is not an issue that the serious effect will be felt after. This is according to the statement made by a reputable economist.
With higher prices, other experts predicted that mortgage rates will soon rise. There will be fewer prospects for jobs in the nearest future. Many people may not afford to buy housing properties. The average prices of homes rose to three-hundred fifty-two thousand six hundred in September. This is usually six point five percent from that same month in 2010.
In getting a complete understanding of the job market in Canada, it is good to know that it is the same with other developed countries. Most of the jobs are focused in the service-oriented sector. The other jobs are in natural and manufacturing resources.
As per the unemployment, it is usually around six point eight percent. This is higher as compared to the long-term period in the past thirty years. The labor sector accounts for seventeen million people.
The economic growth of Canada is focused on the bigger cities like Calgary, Montreal, Vancouver and Toronto. There is a higher employment rate in the provinces of Atlanta, Prince Edward Island and NewFoundland.
For people interested in looking for jobs, they should have their working permits. They should be aware of the difficulty in looking for jobs that best suit them. On the other hand, the prospective employes must obtain their working permits for their applicants.
Apart from it, they may spend more of their money and time in hiring effective lawyers. The language ability is important for the applicants. Most companies look for those applicants that are excellent in speaking the French language. French-English bilinguals are now in-demand. Many companies likely do business with French-and English-speaking Canada! Now, you have learned more about other things other than the Canadian job market!
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