Job Vacancy rate of Canada Reached Record high in 2nd Quarter of 2022
As per 2nd Quarter Job Vacancy and Wage Survey (JVWS) report released by Statistics Canada, Job Vacancy rate stood at all-time high, i.e. 5.7%. Vacant jobs were up 4.7% (+45,000) in 2nd quarter than to the first quarter, and 42.3% (+296,500) greater than the 2nd quarter of 2021. The job vacancy rate shows the number of vacant positions as a proportion of overall labour demand (i.e. filled and vacant positions).
Job vacancies recorded on the rise in 6 Canadian provinces
Job vacancies raised in 6 provinces from the 1st quarter to the 2nd quarter, i.e.
- Ontario (+6.6% to 379,700),
- Nova Scotia (+6.0% to 22,400),
- British Columbia (+5.6% to 163,600),
- Manitoba (+5.2% to 29,300),
- Alberta (+4.4% to 100,900) and
- Quebec (+2.4% to 248,100)
There was an average of 1.1 unemployed individuals for respective job vacancy in Canada in the 2nd quarter, down from 1.3 in the 1st quarter, and from 2.3 in the 2nd quarter of 2021. Take a look as to how the vacant positions rose across key sectors, revealed as per the latest report.
- Job vacancies in health care and social assistance remained high
- Job vacancies rose in accommodation and food services
- All-time high number of job vacancies in professional, scientific and technical services
- Job vacancies slightly changed in retail trade, construction and manufacturing
Canadian Employers continued to face challenges in terms of recruiting during the 2nd quarter of the year 2022, with 44 newly recruited employees for every 100 vacancies. To compare, there were 113 new hires for every 100 vacancies in the 2nd quarter of 2016 (not seasonally adjusted). The rise in job vacancy rate simply means greater employment opportunities not only for the locals, but also for the new immigrants arriving in the maple leaf country on Canada PR visa.
The July 2022 data for the Survey of Employment, Payrolls and Hours and the JVWS to release on 29 September 2022.