The Weekly Review, September 23 to 27, 2024

Immigrants provide almost as much lower-skilled labour as higher-skilled labour to the Canadian economy

It is commonly perceived that the Canadian immigration system mostly provides highly skilled workers to the Canadian labour market. However, the study "The provision of higher- and lower-skilled immigrant labour to the Canadian economy" found that immigrants provide roughly the same amount of lower-skilled labour as it does higher-skilled labour. In fact, in May 2021, around 35% of immigrants who landed in Canada in 2018 or 2019 worked in lower-skilled jobs, compared with around 40% who were employed in higher-skilled jobs.

Source: Economic and Social Reports, September 2024

Average weekly earnings increase in July 2024

The number of employees receiving pay and benefits from their employer increased by 32,800 (+0.2%) in July, following a decline in June (-22,900; -0.1%). Meanwhile, job vacancies fell by 22,400 (-4.1%) to 526,900 in July, marking the third consecutive monthly decline. On a month-over-month basis, average weekly earnings were up 1.0% to $1,268 in July, following a growth of 0.4% in June.

Source: Payroll employment, earnings and hours, and job vacancies, July 2024

Real gross domestic product rises in July 2024

Real gross domestic product was up 0.2% in July, following essentially no change in June. Services-producing industries grew 0.2% in July, driven in large part by increases in the retail trade sector, the public sector and the finance and insurance sector. Goods-producing industries edged up 0.1%, with the utilities and manufacturing sectors contributing the most to growth within this aggregate. Overall, 13 of 20 sectors expanded in July.

Source: Gross domestic product by industry, July 2024

Tourism spending in Canada grows in the second quarter of 2024

Tourism spending in Canada grew 0.7% in the second quarter, following a 1.4% increase in the first quarter as both international and domestic tourism spending increased. Tourism gross domestic product (+0.8%) and jobs attributable to tourism (+0.3%) also rose in the second quarter. Increased tourism spending on passenger air transport (+1.0%) and accommodation services (+1.2%) contributed the most to the rise in tourism spending in the second quarter.

Source: National tourism indicators, second quarter 2024

Canada's fertility rate reaches a new record low in 2023

Canada's fertility rate has been generally declining for over 15 years and reached a new low in 2023 of 1.26 children per woman in 2023. Canada has now joined the group of "lowest-low" fertility countries, including South Korea, Spain, Italy and Japan, with 1.3 children per woman or less. A record low was registered in 10 of the 13 provinces and territories in 2023, with the lowest fertility rate in British Columbia at 1.00 children per woman.

Source: Births and stillbirths, 2023

Older people remain the most charitable in Canada

In 2022, over one-third (34.2%) of the Canadian tax filers declaring a charitable donation were aged 65 or older. For every $100 donated, $48 was given by those aged 65 and older. At $590, the median donation of seniors was the highest of any age group. Prior to the COVID-19 pandemic, in 2018, just under one-third of Canada’s oldest citizens, that is, those born in 1945 or earlier, volunteered on average 222 hours of their time per year, the most annual hours on average of any age group in 2018.

Source: The older people are all right