Canadian job vacancies have reached another all-time high

Posted September 21, 2022 at 1:00 p.m. EDT

Canada's job vacancies hit 5.7% in the second quarter of 2022

Statistics Canada has released the second quarter 2022 results of the Job Vacancy and Wage Survey. Overall job vacancies increased 4.7% from Q1 2022 and 42.3% from Q2 2021.

Canada has nearly a million job vacancies across all sectors, or an overall rate of 5.7%, an all-time high. Job vacancies are calculated as the number of vacancies as they equal total labor demand.

Since the first quarter of 2020, labor demand growth has outstripped payroll growth, resulting in the current record number of vacancies.

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Wage increases in some sectors are not in line with the consumer price index

The report found that the average hourly wage offered increased by 5.3% in all sectors in the second quarter of 2021. It is currently at $24.05 per hour. This rise contrasts with the average hourly wages of all workers currently employed, which increased by just 4.1% in comparison.

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These increases do not correspond to increases in the consumer price index (CPI), a key measure of inflation. The CPI increased by 7.5% compared to the same period in 2021.

Jobs in five sectors most closely reflected wage increases. The professional, academic and technical sectors saw the largest increase, up 11.3% to an average hourly wage of $37.05. Wholesale jobs average $26.10 per hour.

Conversely, retail wages rose just 5.7%, lower than the CPI, and health and social assistance rose just 3.6% year-on-year to $25.85. Overall, the majority of job listings are reporting hourly wages at or below the CPI for Q2 2022.

Job vacancies are increasing in six provinces

Job vacancies increased in six provinces between the first and second quarters of 2022. Ontario saw the largest increase, up 6.6% to a total of 379,700 vacancies. Nova Scotia was also up 6%. British Columbia, Manitoba, Alberta and Quebec saw increases of between 5.6% and 2.4%

The only province to see a drop in job vacancies was New Brunswick, which fell 6.1% to 15,200 job vacancies. There were no significant changes in the other provinces and territories.

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In Canada there was an average ratio of 1.1 unemployed for every vacancy. This is a decrease from 1.3 people per job in the first quarter of 2022 and 2.3 people at the same time last year.

Quebec and British Columbia report only 0.8 people for each vacancy. Conversely, Newfoundland and Labrador is below average with 3.3 unemployed per job vacancy.

Vacancies per industry

health and social assistance

The number of vacancies in health and social care has changed little between the first and second quarters of this year, from 135,300 to 136,100, or almost 6%. However, it’s up nearly 29% from the second quarter of 2021. Due to staff shortages, some hospitals have had to reduce their services, e.g. B. the temporary closure of emergency rooms.

Manitoba has the highest healthcare job vacancy rate at 6.7%.

accommodation and catering services

Job vacancies in the accommodation and catering sector rose significantly by 12.7% to 149,600 vacancies in the second quarter, which corresponds to an overall vacancy rate of 10.9%. This is the highest job vacancy rate in any sector and is particularly pronounced in the Kootenay region of British Columbia.

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Professional, scientific and technical services

The number of jobs in the sector peaked at 74,600 vacancies, up nearly 8% from the last quarter and a 79% increase from the first quarter of 2020. Toronto, Montreal and Vancouver and the surrounding areas accounted for more than half of these vacancies.

The greatest increase, at 13.3%, was in the natural and applied science professions. Technical occupations in the natural and applied sciences also increased significantly in this quarter to 9.6%.

What does that mean?

The high vacancy rate combined with the low unemployment rate means that some employers have difficulty filling vacancies and experience a longer hiring process. In the second quarter, only 44 people were hired for every 100 vacancies. Canada’s labor shortage is expected to worsen by 2030 as over nine million Canadians reach retirement age of 65 and the fertility rate remains low at 1.4 children per woman.

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