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Friday, August 19, 2022

Canada reports over 1 million job vacancies

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A Statistics Canada report reveals job vacancies are reaching all-time highs in Canada.
Canadian employers were actively seeking to fill quite one million vacant positions at the start of March 2022, in keeping with Statistics Canada’s latest report on job vacancies, payroll, and earnings.
The number of job vacancies in Canada reached a record-high of 1,012,900 in March, more than the previous record of 988,300 in September 2021. There was a rise in 186,400 vacancies between February and March. the job vacancy rate, that measures the number of vacant positions as a proportion of vacant and filled positions, matched the record high of 5.9% conjointly discovered last September (not seasonally adjusted).
Vacancies enhanced by quite one third in both accommodation and food services moreover as retail trade. Employers in accommodation and food services were seeking to fill concerning 158,100 positions, and retail employers had some 109,200 vacancies.
There were record levels of job vacancies in health care and social assistance additionally as construction. Health care and social assistance employers were seeking to fill 154,500 vacancies, and construction employers were seeking an unprecedented 81,900 workers.
Job vacancies were up all told provinces. the biggest month-over-month increases were discovered in Saskatchewan, nova Scotia, and Newfoundland and Labrador. the quantity of job vacancies reached a record high in nova Scotia, Manitoba, Saskatchewan, and British Columbia.
There was an average of 1.2 unemployed individuals for each job vacancy in March, down from 1.4 in February. The decline coincides with a record-low percentage of 5.3%, and a record-high core-age labor force participation rate of nearly 87.

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Labor shortages were significantly felt in Quebec and British Columbia, each having an unemployment-to-job vacancy ratio of 0.8. A lower ratio indicates a tighter labor market. the highest was 4.3 discovered in Newfoundland and Labrador.
Job vacancies had fallen for 5 consecutive months from September 2021, a function of seasonal demands. In Canada, economic activity will increase within the spring and summer and declines within the winter.
Statistics Canada is predicted to release April 2022 job vacancy data on June 24. Job Vacancy and Wage Survey results from the primary quarter of 2022 are going to be released on June 21.

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