Recent immigrants suffer in Canada’s weakening job market

Of note:

Newer immigrants are struggling as the Canadian labour market goes through a rough patch.

The unemployment rate for recent immigrants – those who became permanent residents within the last five years – was 12.6 per cent in June, an increase of four percentage points from a year earlier, according to Statistics Canada. (All figures in this piece are three-month moving averages, unadjusted for seasonality.)

It’s a very different story for those born in Canada. Their unemployment rate was 5.5 per cent last month – up slightly from 5 per cent in June, 2023.

The gap in jobless rates between these groups is the largest since August, 2014.

The labour market has softened over the past two years year as companies struggle with higher interest rates, making them more hesitant to hire. At the same time, the Canadian population has soared – largely because of strong immigration – and led to an infusion of job seekers….

Source: Recent immigrants suffer in Canada’s weakening job market