Yukon Weekly

Wednesday, December 7, 2022

The number of job vacancies in Canada has reached an all-time high

The number of job vacancies in Canada has reached another all high.

Key Takeaways:

  • As per Statistics Canada, after a five-month decline, the number of job opportunities in Canada reached an all-time high in March.
  • 109,000 retail job vacancies, 154,000 healthcare job openings, and 82,000 construction job openings were all available.
  • Meanwhile, average weekly earnings increased by 0.9 percent in February and by 4.3 percent on a year-over-year basis, more than double the gain seen the previous month.

As per Statistics Canada, the number of job openings in Canada reached an all-time high in March, following a five-month drop.

According to the agency, employers were looking to fill more than 1 million posts at the beginning of March, up 186,000 positions (22.6%) from February and 382,000 positions (60.5%) from the previous year.

In March, the non-seasonally modified job vacancy rate, which measures the number of empty posts as a percentage of total positions, was 5.9%, matching the previous high set in September 2021.

Vacancies in housing, food services, and retail climbed by more than a third, while vacancies in health care, social support, and construction reached new highs.

For the 11th month in a row, employers in the lodging and food services industry were trying to fill 158,000 positions, with the vacancy rate of 12.8% being the highest of all sectors.

Also read: When asked if Canada existed on stolen territory, Trudeau equivocates

There were 109,000 retail job openings, as well as 154,000 healthcare job openings, and 82,000 construction job openings.

All provinces saw increased job openings, with Saskatchewan, Nova Scotia, Newfoundland, and Labrador seeing the most.

According to seasonal tendencies, before March, employment openings had been declining for five months in a row, with increasing economic activity generating higher labor demand.

In March, an average of 1.2 unemployed persons for every job opening, down from 1.4 in February as well as 2.6 in March 2021, thanks to a record-low unemployment rate of 5.3 percent and a record-high labor force participation rate of 88.6 percent.

Quebec and British Columbia had the lowest ratios, while Newfoundland and Labrador had the highest.

Meanwhile, average weekly earnings rose 0.9 percent in February and 4.3 percent yearly, more than doubling the gain observed a month before. From March 2021 to March 2022, the Consumer Price Index grew by 6.7 percent.

In March, Statistics Canada reported that the number of individuals employed in retail had reached its pre-pandemic level for the first time.

The number of job vacancies in Canada has reached another all high.
The number of job vacancies in Canada has reached another all high. Image from TheRecord.com

Retail jobs increased by 0.7 percent in February, or 14,800 positions, putting them 9,600 jobs ahead of where they were in February 2020.

All provinces had similar or higher employment levels than two years ago, except Ontario and Manitoba, 5,400 and 2,100 positions short of where they were before the COVID-19 outbreak forced significant layoffs.

More than half of the retail subsectors reported increased payroll employment in March, with food and beverage (up to 7,400 jobs) and clothes and accessories retailers leading the way (up 3,300).

In March, grocery shop employment was 2.8 percent higher than before the pandemic. Still, beer, wine, and liquor store employment were 5.1 percent lower, or 2,600 positions, than in February 2020.

According to the bureau, employment climbed by 118,000 or 0.7 percent to 17.3 million in February and March, as public health controls were loosened and capacity constraints were typically lifted.

The services sector accounted for most of the gains, with seven provinces reporting rises, led by Quebec, which reopened bars, taverns, and casinos on February 28.

Except for Alberta, Newfoundland, and Labrador, all provinces exceeded pre-pandemic levels in March.

Source: CTV News

Get Canada and Yukon’s top News, Market News, and other News of USA and worldwide only on yukonweekly.com

Show More

Leave a Reply

Your email address will not be published.