New Record Set for Job Vacancies in Canada

2022 has begun with an increase of 72% vacancies or  874,700 unfilled positions, as per the latest Statistics Canada figures, since the year 2019.

According to November data, the number of job openings was down 9.3% from October, although still much greater than before the pandemic began. Despite a decrease in the previous two months from the all-time high reached in September, the number of vacant positions is still 72 per cent higher than in the fourth quarter of 2019.

According to Statistics Canada, the job vacancy rate, which measures job vacancies as a percentage of all vacant and filled positions, was 5.1 per cent in November, up 2.1 percentage points from before the epidemic.

In November, the transportation and warehousing industry saw an all-time high of 51,500 job openings. In November, the vacancy rate in this industry was 6.2 per cent, the highest monthly rate since statistics was first gathered in October 2020.

High employment vacancies also influence other vital economic sectors such as lodging and food services, healthcare, and construction.

The number of vacancies in the lodging and food services sector fell by 11.7 per cent to 130,100 in November. Despite this decline, the industry had a 9.9% vacancy rate in November, outperforming all other sectors for the eighth month in a row.

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The number of vacancies in the healthcare sector was 119,600, with a vacancy rate of 5.2 per cent.

In November, there were 67,800 job openings in the construction industry, with a vacancy rate of 5.6 per cent.

In November, the number of job postings fell in six provinces compared to the previous month, with the biggest drops in Newfoundland and Labrador, New Brunswick, and Quebec. On the other hand, Manitoba set a new high with 27,300 job openings, despite the fact that the province's vacancy rate of 4.5 per cent was still lower than the national average of 5.1 per cent.

As per Statistics Canada's payroll survey statistics, 37,200 positions were filled in November, up 0.4 per cent from pre-pandemic levels and the sixth month in a row.

The service sector, which includes lodging and food services, public administration, and professional, scientific, and technical services, saw the most job growth in November. According to Statistics Canada, several firms were able to expand their capacity and distancing requirements during the latter week of October and the first week of November, resulting in an increase in employment.

All construction industries in Canada have returned to or exceeded their pre-pandemic employment levels. In November, average weekly hours and salaries were relatively unchanged. The average hourly wage earner worked roughly 31 hours per week, compared to 37 hours for salaried employees.

In November, weekly earnings amounted to $1,131 on average.

Overall, November in Canada exhibited optimistic indicators of job creation and economic improvement. The implications of the latest Omicron wave, which began in late November and is now diminishing, are uncertain, but they may have an impact on Canada's economic advancement in the early months of 2022.