Higher Canadian job vacancies resulted in Ontario and Saskatchewan introducing 400,000 new job positions. On the other hand, the unemployment rate decreased in September by 3.8 percent. However, most recent job positions are in the provinces mentioned above.
The job vacancy rate increased to 5.7 percent, implying the constant need to fill the vacancies amidst the labor shortage.
Additionally, September turned out to be a month of massive vacancies due to seasonal factors, while job vacancies continue to increase.
Higher Canadian job vacancies
Statistics Canada considers a job as unfilled under the following conditions:
- an available current job position.
- working for a position within 30 days.
- in case employers seek more active workers from elsewhere apart from the organization to fill the vacant job position.
Moreover, specific economic sectors displayed a higher number of job vacancies.
Health care and social assistance- Higher job vacancies in Canada
A rise of at least 159,500 job vacancies occurred in September due to a record-breaking vacancy rate in August. The healthcare and social assistance sector also witnessed a 25 percent increase in its vacancy rate yearly. This increase also happened because this sector demanded more professionals. As a result, demand for doctors, nurses, surgeons, and physicians also increased due to the Covid-19 crisis.
However, Canada took several initiatives to address the labor shortage and attract more professionals to move to Canada. The country even made sure to remove existing obstacles to clear off the path to permanent residence for professionals in this sector.
Accommodation and Food Services
The Accommodation and Food Services sector, constantly searching for labor, also witnessed a growth of 12 percent in August.
Most of the growth took place in this sector due to seasonal factors. However, resuming the pre-existing pandemic business patterns and social concords also helped regain the employment growth rate. Besides this, an evident growth rate for future employment and vacancies is foreseen. Additionally, this sector’s employment rate remained higher throughout the year.
Retail Trade
The Retail Trade sector also witnessed an increase in job vacancies, with 117,300 vacant jobs in September. Moreover, the job vacancy rate aligned well with the national average vacancy rate across all sectors at 5.5 percent. However, this increase in the sector displayed a constant requirement for workers.
Professional Scientific and Technical Services
The Professional Scientific and Technical Services sector also consistently showed a requirement for labor. However, this sector surrounds accounting, computer systems design, management consulting, architectural and engineering, public relations, advertising, etc.
September’s report shows the need for labor in this specific sector, with a 5 percent increase in the vacancy rate. However, this vacancy rate reflects the same national average. This growth rate also reflects the current colossal demand and more efforts that will be made to hire individuals in the upcoming years.
Manufacturing
Manufacturing is the only sector that witnessed a deterioration in the vacancy rate, with just 76,000 job vacancies in September. However, the previous month observed its peak job vacancies at 92,100.
According to the Real Gross Domestic Product, this above decline in job vacancies was seen to be the fourth decline in the last five months. RGDP displays the value of all goods and services within a specific industry or sector based on inflation.
Also, the reduction in job vacancies within this sector strongly relates to the ongoing contraction within the industry.
Payroll increase- a brief
The number of employees withdrawing pay or benefits from their employers refers to payroll employment. Additionally, increased figures in payroll employment are due to diverse reasons. For instance, hiring for old job positions that yet remain vacant. Moreover, payroll employment can indicate an excellent business, industry, or economy.
Nationally, payroll employment increased by 0.5 percent in September, and British Columbia, Alberta, and Quebec witnessed gains on a massive scale.
The following sectors saw a considerable employment increase:
- More than 20,700 employees in the healthcare and social assistance sector.
- Over 8,400 employees in the accommodation and food services sector.
- Above 8,200 employees in the retail trade sector.
Overall, the higher vacancies in all the above industries indicate good signs for professionals seeking these three sectors. Furthermore, relating these good signs with the RGDP across each industry in August, the three sectors witnessed the following:
- More hiring activities due to increased job vacancies.
- Increase in the number of people recruited (increase in payroll employees).
- The value of goods and services increased as a whole.
Additionally, all these signs encourage Canada to come out of the pandemic protocols and reach pre-pandemic levels in terms of the economy.
Higher Canadian job vacancies- reaching their peak
Immigration continues to be the critical factor when addressing the labor shortage challenges. On the whole, IRCC and the Canadian government have been taking several initiatives to confront the acute labor shortage issues. The labor shortage is a massive drawback due to an aging Canadian population meeting its retirement age.
Express Entry and Provincial Nominee Programs have seen an enormous expansion to ensure the successful immigration of more skilled foreign workers to Canada. Besides this, the immigration levels plan has also released a higher immigration target of welcoming 500,000 newcomers by 2025.
