Record High Job Vacancies in Canada: Up by 3.2% in June 2022

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Mrunmayai Bobade
Updated on Sep 05, 2022 01:22 PM IST

For the month of June 2022, Statistics Canada recently released its monthly report on wages, payroll employment, and working hours in the country. As indicated in the job vacancies portion of this update, there were over 1,000,000 vacancies in Canada in May 2022.

Record High Job Vacancies in Canada: Up by 3.2% in June 2022

Between May and June 2022, there were 32,200 more job vacancies available in Canada, showing a 3.2% increase in job openings across the country. The overall number of job vacancies in the country has now crossed 1 million for three months consecutively.

There were 5.9% of vacant jobs in June, up by 1% over June of last year and matching a record-high set in September 2021. This means a greater proportion of the total labour demand of Canada (which numbered 17.7 million in June, including both filled and vacant jobs) is unfilled.

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A vacancy rate of over 6% is experienced in the health care and social assistance sectors. Since June 2021, job openings in the health care and social support sectors have increased by 40.8%. To put it simply, there were 149,700 job vacancies in this industry in June, with a job vacancy rate of 6.3%, which is 0.4% higher than the national average.

Other working sectors in Canada with notable job vacancies:

In June, StatsCan reported 171,700 job vacancies in the accommodation and food sector, an increase of 6.6% from May's update and 38.8% from the same time last year. It was estimated that this sector had a total of 12.2% job vacancies during this period.

Since May, there have been 15,200 additional job openings in the retail trade industry, representing a 15.3% increase in employment opportunities. The number of open positions in the retail trade sector has increased by 22.5% since June 2021, totalling 114,400, which translates to a 5.4% job vacancy rate.

Canadian job vacancies for June 2022 in five key industries:

Below are some brief statistics on job vacancies for June 2022 in Canada in several industries:

Name of the Employment Sector

Number of Job Vacancies

Manufacturing

82,800

Transportation and warehousing

49,000

Construction

89,200

Scientific, professional, and technical services

72,200

Finance and insurance

41,200

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Statistics Canada's report on vacancies in Canada reveals that in June, the ratio of unemployed to vacancies reached an all-time low of 1.0. This means that there was only one unemployed person for every vacancy.

In June 2021, the official unemployment-to-job vacancy ratio for the entire country of Canada was 1.9, almost twice as high as it is today. This fact is consistent with the report's most important finding, which is that Canada's unemployment rate is continuing to decline nationwide even while job openings are increasing nationwide.

The Canadian government will look to immigration as one way to increase the country's workforce in order to address this issue. With this, Canada plans to extend invitations to its highest-ever amount of potential permanent residents between 2022 to 2024. It includes targets ranging from 430,000 to more than 450,000 per year.

Are You Looking For A Job in Canada? 

Source: Livemint

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