In October 2022, Statistics Canada released a new report on wages, hours worked, and job openings. As per this report, Canada saw a decrease of 44000 job openings in October 2022.
The number of job openings in Canada has dropped to 871,300
A total of 871,300 positions in Canada were open in September and October 2022, a decrease of 4.8% or 44,300. The number of vacancies in Canada has now dropped under one million for four consecutive months, following a high of 1,001,800 in May 2022 and over one million in June and October.
With an employment vacancy rate of 4.9%, Canada’s employment vacancy rate for October was the lowest since June 2021.
A country’s job vacancy rate (filled plus vacant job positions) is calculated by taking the number of open positions and dividing it by the overall labor demand across the country.
Four sectors have experienced a decrease in job vacancies of over 14.5%
Four different Canadian industries experienced job opening drops of at least 14% from September 2022 to September 2322. A 14.6% decline in job openings (-5,600) was recorded in “other services” compared to 11,000 job losses (-19.9%) in “administrative and support, waste management and remediation services”.
A total of 20,4% fewer jobs were available in two industries from September (-17,200 to 67,400), with the construction industry seeing the largest decrease (-20.4%). Lastly, there were 3,500 fewer positions overall in the “agricultural, forestry, fishing, and hunting” sector (a decrease of 27.7%).
Since September, the number of open positions hasn’t changed significantly in four other industries
From September to October 2022, there was a small change in the number of open positions in four Canadian industries. During the month of October, these sectors reported the following job openings:
Services related to accommodation and food: 120,600
Trade in retail: 94,600
Manufacturing: 72,500
Services in the professional, scientific, and technical fields: 63,300
More than 150,000 positions in the healthcare and social assistance sector have been reported as available
The healthcare and social assistance sector, which holds the most job openings in Canada, continued to have 151,200 jobs available in October 2022.
There is a significant increase in the vacancy rate in this industry from 6.3% in the previous year (+0.9%).
More than 9% of job vacancies shift in five provinces
During September and October 2022, there was an increase in the number of open positions in four provinces. It is estimated that the number of vacancies in Ontario decreased by 36,700 (-9.8%). There were 27,500 vacancies down in British Columbia (14.8%), 12,900 vacancies down in Saskatchewan, and 25,900 vacancies down in Quebec.
Newfoundland & Labrador have 1,900 additional open positions (an increase of 29.4%) in the month before October 2022, despite an overall rise in open positions.
