Canadian job vacancies rise to new record in 2022
Between May and June 2022, Canadian job vacancies rose to a new record of 3.2%, meaning more than 32,000 jobs are currently available. According to Statistics Canada, since May, job vacancies in Canada have achieved a new record surpassing 1 million in just three months. The total labour demand which refers to the filled and vacant positions reached a record of 17.7 million in June, 1.4% higher than in May.
What are the industries that have the most job vacancies?
Some industries had been showing a bigger amount of job vacancies than others, especially since December 2020; a period of time when the job market stabilized better after the pandemic started.
Health care and social assistance
The health care sector had a record of 40.8% in March, higher than in June 2021. In the summer of 2022, the health care and social assistance sector had a rate of 6.3%, in other words, it had 149,000 vacant positions.
Accommodation and food services; retail trade
In the accommodation and food services sector, the job vacancies rise by 6.6% in June, meaning 171,000 job vacancies. The job vacancy rate in the sector was 12.2% during the same period.
In retail trade, vacancies increase 15.3%, meaning 114,400 job vacancies in June. The job vacancy rate in this sector was 5.4% and the vacancies were 22.5% higher than in June 2021.
Other sectors in June (Numbers only)
Professional, scientific and technical services: 72,200
Transportation and warehousing: 49,000
Finance and insurance: 41,200
What does it mean that job vacancies are exceeding the number of unemployed persons?
According to Statistics Canada, ''the unemployment-to-job-vacancy ratio reached a record low of 1.0 in June, which means that there was one unemployed person for each vacant job''. The ratio increased to 1.9 in June.
The provinces that had an unemployment ratio below 1.0 were Quebec (0.6), British Columbia (0.7), Saskatchewan (0.8), and Manitoba (0.9). While the province with the highest ratio continues to be Newfoundland and Labrador (2.7).
What is the unemployment-to-job-vacancy ratio?
The unemployment-to-job-vacancy ratio. This ratio explains how many unemployed people are available for each vacant position.
What is the Canadian government planning to do to address the job vacancy rise issue?
Due to the low labour shortage or job vacancy rise, the Canadian government established immigration targets. Some of the things that the government has planned to do to address this issue are the following:
Canada aims to welcome more than 1.3 million new permanent residents over the next three years. Making it more accessible for immigrants interested in achieving a Canadian residency
The Canadian government is invested in offering different solutions to attract more immigrants in the future. Immigration, Refugees and Citizenship Canada (IRCC) has spent $2 billion per year on immigration settlement services and language training processes
The Canadian Federal Government has adjusted the selection process for immigrants. They recently introduced the Express Entry Comprehensive Ranking System (CRS) which increases the likelihood for international students to fulfill the basic requirements to gain permanent residence and thrive in the Canadian job market
These solutions indicate that studying in Canada is proving to be a favourable option for international students who have the financial opportunity to pursue it.
If interested in finding job opportunities, please go to the article 'How to find jobs as an international student in Canada' where you can find websites that can help you. Or, inquire about joining the Acsenda Jumpstart Program, which helps new students connect with our employer partners.
If you want more information about job vacancies, please go to the Statistics Canada website.