Canadian Job Vacancies at historic high – About 433,000 jobs unfilled

According to the Canadian Federation of Independent Business latest Help Wanted Report, Canada is experiencing historic high job vacancies than it’s before quarter and year. As per the roughly figure provided, about 433,000 Canada’s private-sector jobs have gone unfilled in the previous quarter.

As per the rough estimation provided by the report, it is over 1,500 from this year’s second quarter and 15,000 more than last year.

Ted Mallett, Chief Economit of CFIB, stated that, “This is now the fifth consecutive quarter in which we’re seeing a record high vacancy rate.” “The smallest of firms, those with fewer than five employees, are having the hardest time recruiting workers, with a vacancy rate as high [as] 5.4 per cent.”

Job Vacancies in Canadian Province

Quebec remained as the tightest labour market among the Canadian provinces once again with a 4 percent vacancy rate. British Columbia and Ontario maintained an above-average vacancy rate of 3.8 and 3.2 percentage respectively.

Find the below table illustrating the vacancy rate of the province rate and its unfilled employment.

Industry-wise Job Vacancy in Canada

• Compared to the big-business sectors, a lot of small-sized companies have shown a higher vacancy rate.
• The trend line indicates the rise of vacancy was seen in information, agriculture, and hospitality. And have got declined in wholesale, retail sectors, and manufacturing.
• Industries like hairdressers, funeral services, dry cleaners represented the highest vacancy rate of 4.9 percent between July and October 2019.
• The constructor sector is second with a 4.7 percent vacancy rate.
• Hospitality – 4.0 percent; Agriculture – 3.7 percent; and Information – 2.4 percent have also represented a good vacancy rate in the third quarter.
• Transportation – 3.4 percent; Manufacturing – 2.8 percent; Wholesale – 2.6 percent and Retail – 2.5 percent has a steady decline.
• The lowest job vacancy rate was experienced in natural resources at 1.8 percent.

Vacancies make a powerful influence on skilled workers. And, as per the CFIB, the crucial vacancy drivers in the future can be for growth intentions, firm-specific job characteristics, and business size.

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