Canadian, U.S. Labor Markets Trends Show Recovering Job Market

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Accordingg to Canadian labor market findings by the Indeed Hiring Lab, Canada’s labor market has recovered faster than the United States, due to stronger rebounds in several middle and high-income industries.

However, there is an assumption that the recovery of high-paying industries could have a negative impact on low-wage industries.

Recovery in Canada is attributed to the shift of workers from different segments of the population to growing sectors.

But not everything is grim for the U.S. labor market, as two trends highlight its growth: the first is that U.S. workers are changing jobs, which helped drive up wages in the United States by 4.6% year-on-year.

The second trend, which is considered a reverse trend, shows that self-employment in the United States is now above pre-pandemic levels. In Canada, self-employment declined as the market recovered from the pandemic.

One of the many surprising trends in the Canadian and U.S. labour markets is the desire of many workers to find employment that meets more subjective needs.

These needs include self-worth purpose and quality of life. The identified needs are more valuable to workers today than higher pay or promotion.

For more information, read the original story The Globe And Mail.

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