Canada’s Top Employers for 2023
An important metric for assessing the state of the Canadian economy is the unemployment rate. It calculates the proportion of the labour force that is unemployed and looking for work. A robust economy is one with a low unemployment rate, while a bad economy may be indicated by a high unemployment rate. In this post, we’ll examine the unemployment rate in Canada in more detail, as well as some recent developments.
While there have been minor variations over the past few years because of seasonality and other reasons, Canada’s unemployment rate has remained largely steady. The unemployment rate was close to a record low in 2019 at 5.7% on average. The Canadian economy and labour sector, however, have been significantly impacted by the COVID-19 pandemic. The unemployment rate increased to a record high of 13.7% in April 2020 as a result of firm closures, mass layoffs, and reduced hours for many employees. Although it has gradually decreased since then, the unemployment rate is still higher than it was before the pandemic.
The unemployment rate in Canada was 6.8% as of January 2022, a tad higher than the rate of 6.6% from the previous month. In 2023 Canadian economy continues to thrive and the unemployment rate dropped to 5% by the end of 2022.
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Top Employers for 2023
Forbes, American business magazine has revealed Canadian top employers for the year 2023. This new list of top Canadians employers is not the indication of how many employees a company has and not necessary how muck their employees earn on annual basis but rather the indication on how the company treats their employees. Employee ratings, company events, mission, vision and values are among the criteria Forbes used to create this Canadian Top Employer List.
- Sheridan College
- Canadian Mental Health Association
- The Keg Steakhouse
- Ericsson
- Export Development Canada
- Carleton University
- Hydro-Quebec
- Cisco Systems
- Microsoft
- OpenText
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It is encouraging to see that two educational institutions and one restaurant chain are among top 10 employers in Canada. Looks like the pandemic years are thing of the past and hard hit industries slowly gained momentum in 2022 and beginning of 2023. Forbes list continues their list to top 50 Canadian employers of 2023. To see the entire top 50 list please visit Forbes site.
