The Statistics Canada report reveals job the number of jobs available is at an all-time high in Canada.
Canadian Employers were searching to fill over one million job openings in early March of 2022; according to Statistics Canada’s most recent report on job openings Payroll, earnings, and vacancies.
Job openings in Canada hit a record high of 1,012,900 in March. This is surpassing the previous high of 988.300 in September 2021. The number of vacancies increased by the number of vacant positions between February and March. The job vacancy rate, which methods the number of vacant roles in the proportion of filled and empty posts, was at the same level as the record-setting highest of 5.9 percent, which was also recorded last month in September (not seasonally adjusted).
The number of vacant positions increased by nearly one-third in accommodation and food services and retail trade. In the food and accommodation services, employers were trying to fill around 158,100 vacancies, while retail companies had 109,200 open positions.
Record-breaking levels of job openings in the areas of health, medical and social services, as well as construction. Social assistance and health care employers were searching for the 154,500 vacant positions, while construction employers were looking for an unheard-of number of employees.
Job vacancies increased across all provinces. The most significant increases over a month were seen within Saskatchewan, Nova Scotia, Newfoundland, and Labrador. The number of jobs available was at a record for Nova Scotia, Manitoba, Saskatchewan, and British Columbia.
The average was 1.2 unemployed individuals per job opening in March, down from 1.4 in February. This decrease is accompanied by the lowest unemployment rate of 5.3 percent and a record-high labor force participation rate of almost 87 percent.
There was a particular shortage of workers, particularly in Quebec and British Columbia, each having a ratio of unemployment to job vacancies of 0.8. A lower percentage signifies an energized labor market. The highest rate was 4.3, recorded Newfoundland in Newfoundland and Labrador.
Job vacancies have decreased over five months consecutively from September 2021 due to seasonal demand. In Canada, economic activity rises during summer and spring and falls in the winter.
Statistics Canada is expected to publish the April 2022 data for job vacancies on the 24th of June. The Job Vacancy and Wage Survey results from the beginning of the 2022 first quarter are likely to be reported on the 21st of June.
