Recent developments in Canadian labour markets Globally, workers felt the brunt of the financial crisis. Yet, given its severity, Canada’s labour market has performed well, both in absolute terms and relative to other advanced economies. All of the jobs lost in the recession have been recovered and a further 304,000 jobs have been created (Chart 3).
Since the trough, the vast majority of these jobs have been full-time and in the private sector. Nearly all new jobs are in industries that pay above-average wages. 2  BIS central bankers’ speeches  After peaking at 8.7 per cent in August 2009, Canada’s unemployment rate has fallen to its current level of 7.3 per cent.