Is this considered out of status?

[ama25]

If a person comes to Canada with a work visa for a year and 6 months before your permit is up
your employer decides to shut down their business, in that case you still have 6 months left in your visa but
you are no longer working, so what is your status during the last 6 months?

 

[Meya06]

As long as have a valid visa, you still on legal status during these period, however you are not be able to work other company other wise you will become illegal right away.

You must find an employer who willing to give you job offer and LMIA in order to work as legally status. In the mean time you can try to create Express entry profile if you work as skilled worker such as NOC A, B and 0