Canada Economy

Working abroad sounds like an adventure to many people. Job search in Canada requires more than just the obvious Canada resume writing and translation - it requires thorough preparation. You will face problems that probably did not even come to your mind when you made a decision to get an overseas employment.

Do not take too lightly the influence a job in Canada can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and out of the ordinary management culture.

art_warning Canada EconomyMost visits to Canada are trouble-free but you should be aware of the global risk of indiscriminate international terrorist attacks, which could be against civilian targets, including places frequented by foreigners. The Canada authorities have carried out a number of arrests as a result of investigations into terrorist networks.

Canada economy - overview: As an affluent, high-tech industrial society, Canada today closely resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US.

Given its great natural resources, skilled labor force, and modern capital plant, Canada enjoys solid economic prospects. Top-notch fiscal management has produced consecutive balanced budgets since 1997, although public debate continues over the equitable distribution of federal funds to the Canada provinces. Exports account for roughly a third of GDP. Canada enjoys a substantial trade surplus with its principal trading partner, the US, which absorbs 80% of Canada exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium and electric power.

Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and the Government posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010 and 2011 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly becoming an even larger economic driver with Alberta's oil sands significantly boosting Canada's proven oil reserves, ranking the country third in the world behing Saudia Arabia and Venezuela.

Labor force - by occupation: agriculture 2%, manufacturing 13%, construction 6%, services 76%, other 3% (2006)

Unemployment rate: 6% (2007 est.), 7.4% (2011 est.). Practically these official figures should be doubled due to system statistical deficiencies.

Natural resources: iron ore, nickel, zinc, copper, gold, lead, molybdenum, potash, diamonds, silver, fish, timber, wildlife, coal, petroleum, natural gas, hydro-power

Industries: transportation equipment, chemicals, processed and unprocessed minerals, food products; wood and paper products; fish products, petroleum and natural gas

CanadaCurrency Canada EconomyCurrency: Canada Dollar (CAD; symbol C$) = 100 cents. Notes are in denominations of C$100, 50, 20, 10 and 5. Coins are in denominations of C$2 and 1, and 25, 10, 5 and 1 cents.

Exchange rates: Canada dollars (CAD) per US dollar - 0.9801 (2011 est.), 1.0302 (2010 est.), 1.1431 (2009), 1.0364 (2008), 1.0724 (2007), 1.1334 (2006), 1.2118 (2005), 1.301 (2004), 1.4011 (2003)

Credit/Debit Cards and ATMs: All major credit and debit cards are widely accepted. ATMs are widely available.

Traveler's Cheques: To avoid additional exchange rate charges, travelers are advised to take traveler's cheques in Canada Dollars; these are widely negotiable.

Inflation rate (consumer prices): 2.1% (2007 est.), 2.8% (2011 est.)

Other Canada Economy Info

We hope that your Canada job search has been successful and you will get Canada visa too. So, if your Canada cover letter and Canada resume are ready, you may distribute them to your future employers or job recruiters and start preparing for a Canada job interview.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Canada economy info!


Canada & USA

Copyright © 2016 All Rights Reserved.