Canada’s job vacancies hit a document excessive

According to official information, the variety of job openings in Canada reached a brand new excessive of 912,600 within the third quarter of 2021. Due to the results of the Covid-19 pandemic, record-high job vacancies coincided with elevated general employment and falling unemployment.

The information from Statistics Canada offers perception on a couple of facets behind the beforehand launched month-to-month job emptiness information, corresponding to sectoral and regional variations in unfulfilled labor provide, adjustments within the occupation and ability profile of vacancies, and up to date traits within the wage charges provided by employers.

Agriculture, fishing, searching, forestry, actual property, rental and leasing had been the one industries the place vacancies didn’t improve within the third quarter of 2021 in comparison with the identical interval two years prior.

The Main Industries

The progress in job vacancies was pushed by 5 industries: well being care, development, lodging and meals, retail commerce, and manufacturing. Increases in jobs obtainable can point out a wide range of adjustments in labor market situations that exist in varied sectors and areas.

Between the third quarter of 2019 and the third quarter of 2021, vacancies in low-wage areas of labor elevated greater than in high-wage occupations. In the third quarter of 2019, 20% of jobs with the bottom common wages accounted for 35% of workers and 49% of job openings. These similar occupations accounted for 32.3 % of workers and 50.9 % of vacant positions within the third quarter of 2021.

According to Statistics Canada, the 912,600 job openings in Q3 2021 had been 62.1 % increased (349,700 extra jobs) than in Q3 2019. Saskatchewan skilled the best improve in employment vacancies, adopted by Quebec and Ontario.

The Rising Demand in Healthcare Sector

The healthcare and social help sectors are below vital labor-force stress. There had been 118,200 vacancies within the third quarter of 2021, and payroll employment managed to succeed in pre-COVID ranges in December 2020, indicating that the sector is going through challenges by way of unmet labor demand. Because of Canada’s growing old inhabitants, there was a rising demand for staff on this sector even earlier than the pandemic. Registered nurses and registered psychiatric nurses (22,800) and nurse aids, orderlies, and affected person service associates (24,100) had been among the many occupations with essentially the most vacancies in Q3 2021.

Accommodation and Food Industry

Over the final two years, lodging and meals providers accounted for practically 1 / 4 of the rise in whole job vacancies. According to Statistics Canada, the upper stage of job vacancies was possible resulting from staffing challenges related to companies reopening within the sector over the summer season, and the sector usually experiencing growing labor demand in the course of the summer season.

Conclusion

According to Statistics Canada, the record-high variety of job openings has targeted consideration on the extent to which labor shortages might contribute to wage inflation. Statistics Canada deduced the report by specifying that Canada’s labor market situations will proceed to enhance by way of the tip of the third quarter of 2021. For instance, the unemployment price was 6.0 %, which was 0.3 share factors increased than the pre-COVID February 2020 stage of 5.7 %.