Statistics Canada published its monthly employment, wages, and hours report, as well as job openings for June 2022 earlier this month. Canada had over 1,000,000 open positions in May of this year, according to this update’s section on job openings.
Vacancies continue to rise
A total of 32,200 more jobs have become available across Canada in the last month (between May and June 2022).
As a result, Canada has experienced three consecutive months of more than 1 million job openings. It is clear that a greater proportion of Canada’s total labor demand (the sum of both filled and vacant job positions, which came in at 17.7 million in June) is composed of unfilled jobs, as the June job vacancy rate was 5.9%, up 1% from June of last year and matching the new record set in September 2021.
In the health care and social support sector, there are more than 6% open positions
In the health care and social support sector, there have been 40.8% more job opportunities since June of last year. This means that in June, there were 149,700 open positions in this industry, with a job vacancy rate of 6.3% – a figure that is 0.4% higher than the national average.
Accommodation and food sectors have notable job openings; retail trade also has job openings
Despite a 6.6% increase since the Statistics Canada May update, accommodation and food sector job vacancies were up 38.8% year-over-year as of June, which was worse than health care and social assistance. During this period, there were 12,2 job openings in this sector. 15.3% more jobs became available in the retail trade sector since May, meaning 15,200 more positions become available. A job vacancy rate of 5.4% equates to 114,400 open positions in the retail trade industry since June 2021, an increase of 22.5%.
An overview of job openings in a variety of occupations
Five additional significant Canadian work sectors were the subject of some short data for May 2022.
- 89,200 jobs are available in construction.
- There are 82,800 job openings in manufacturing.
- Services for professionals, scientists, and technicians: 72,200 job openings
- 49,000 employment openings in transportation and warehousing.
- 41,200 job openings in the financial and insurance sectors.
How does all of this relate?
Statistical data from Statistics Canada on job openings in Canada indicate that in June, there was one unemployed person for every vacant job. There were four provinces with a ratio of less than one (1.0) in June, despite the fact that the ratio represents the entire nation.
Four provinces in June had underemployment ratios of less than one (1.0) despite the ratio representing the entire nation. Manitoba (0.6), Saskatchewan (0.8), British Columbia (0.7), and Quebec (0.6) were all below these levels. (7.7). The province with the greatest proportion, though, was Newfoundland and Labrador, at 2.7.
Officially, there were 1.9 times as many unemployed Canadians as there were open positions in June 2021, which is consistent with one of the most significant discoveries in this study: unemployment is continuing to fall across Canada while job vacancies are rising.
To address this issue, it is believed that Canada would turn to immigration, with the government preparing to extend invitations to as many as feasible prospective permanent residents between now and 2024. (With annual targets ranging from 430,000 to over 450,000).
