According to official data, the number of job openings in Canada reached a new high of 9,12,600 in the third quarter of 2021.
According to Statistics Canada, the record-high job vacancies coincided with growth in overall employment and falling unemployment as a result of the Covid pandemic. The data from Statistics Canada gave insight on some of the aspects behind the previously released monthly job vacancy data, such as sector-specific and regional discrepancies in unmet labor demand, changes in the occupation and skill profile of vacancies, and current developments in the salaries offered to employees.
The total number of job vacancies across all sectors was 3,49,700 higher than in the previous year’s corresponding period. In the third quarter of 2021, job vacancies increased in all provinces of Canada when compared to the same period two years prior.
Between the third quarter of 2019 and the third quarter of 2021, employment opportunities expanded in 18 of the 20 major economic sectors. Agriculture, forestry, fishing and hunting, and real estate and rental and leasing were the only industries where open positions did not increase in the third quarter of 2021 when corresponding period two years prior. These same occupations accounted for 32.3 per cent of employees and 50.9 per cent of vacancies in the third quarter of 2021.
On the other hand, the 20% of professions with the highest wage levels accounted for 9.4% of vacancies in the third quarter of 2021, a 1.1 percentage point decrease from the same period two years prior.
The expansion in job vacancies was driven by five industries: health care, construction, lodging and food, retail trade, and manufacturing. An increment in open positions can indicate a series of changes in labour market conditions that exist in various sectors of the economy.
Between the third quarter of 2019 and the third quarter of 2021, vacancies in low-wage occupations increased more than in high-wage occupations. 20% of occupations with the minimum average wages accounted for 35% of employees and 49% of job openings during the third quarter of 2019.
According to a new Statistics Canada report, the Canadian economy is still recovering from the coronavirus pandemic. In September, 91,100 people were added to payrolls across Canada, marking the fourth consecutive monthly increase.
In eight provinces, payroll unemployment fell. With over 43,000 new employees added to payrolls, Ontario led the way. The province of British Columbia (BC) came in second, followed by Quebec.
With job opportunities exceeding expectations and unemployment approaching pre-pandemic levels, new labour force findings suggest that Canada is on its way to a full economic expansion. Employers in Canada added 1,54,000 jobs to the economy.
Last month’s growth rate surpassed analysts’ expectations of 38,000, which was more in line with October levels. In addition, unemployment fell to 6%, which is within 0.3 percentage points of what it was in February 2020. Policies requiring proof of vaccination as well as other public health policies remained largely unchanged from October.
Read all the Latest News here. Follow us on Facebook, Twitter, Instagram, and LinkedIn.