There are many reasons for which foreign investors come to Canada. From being one of the largest trading countries and one of the greatest economies in the world, Canada also has other attributes which are important for enterprisers. Apart from the taxation system which is usually the most researched aspect when deciding to start a business in Canada, there is another aspect just as important: the Canadian workforce.
If you want to open a company and need information on the employment regulations here, you can find this information with our Canadian company registration consultants.
The distribution of the labor force across Canada
The last data related to the distribution of the workforce across the Canadian territory is from 2016, when Statistics Canada, the official statistics institute in the country, reported an overall employment level of more than 60% at national level and one of the lowest unemployment rates in the last several years – 7%. The report is based on the whole number of residents in the country.
Also, it was generally observed that the more educated, Canadian residents were more interested in obtaining employment with companies in large counties like Yukon, Alberta and Manitoba.
When it comes to the distribution of the workforce in Canada based on industries, companies in the retail and manufacturing sectors had the greatest number of employees.
We have a team of lawyers in Canada who can provide you detail on the Labor Code.
The characteristics of the workforce in Canada
Even if most of the workforce is made up by Canadian citizens, the vast territories of the countries have also attracted large numbers of foreigners who came to work here in industries like IT and construction. The government has made it possible for young and talented people to enter the local labor market and now Canada has one of the most skilled, multilingual and young work forces in the American territory.
The Canadian labor force is also a highly-educated one, as shown by the latest reports of Statistics Canada.
If you want to set up a business in Canada and need assistance, our company registration agents can guide you through the incorporation procedure. You can also contact us for more information on the employment regulations and foreign investments laws applicable in Canada.
If you will register a business in Canada and you will hire employees, you will also need to comply with certain employment regulations.
Matters concerning employment are regulated at a federal level by the Canada Labour Code, Part III. Other rules derive from the Canadian Human Rights Act and the Employment Equality Act, as well as from the Federal Contractors Program.
After hiring employees, the company will need to complete payroll procedures and this can be done with the assistance of the human resources department or with the help of accountants.
This depends on the size of the company and its internal structure. You can always rely on the services of a CPA in Canada, who is a type of accountant that has in-depth knowledge in many areas of the accounting profession.