According to a recent Statistics Canada report, Canada was home to a record 912,600 job openings during the 3rd quarter of 2021.
This was happening as the economy in Canada recovered in the wake of easing limitations on public health care. The record-high number of jobs available resulted from increased employment overall and a decline in unemployment.
Statistics Canada notes the job vacancies of 912,600 in the quarter ended 2021 were 62.1 per cent higher (349,700 additional jobs) than in the Q3 of 2019. In proportion, the most significant increase in job vacancies occurred in Saskatchewan, followed by Quebec and Ontario.
Employment vacancies increased significantly in 18 of the 20 industrial sectors between Q3 2019 through Q3 2021. Five industries accounted for more than 70% of the rise, including food and accommodation services, social and health care retail trade, construction, and manufacturing.
Social assistance and health care are under significant labour pressure. Were 118,200 jobs available in the third quarter of 2021, and the payroll employed reached pre-COVID levels in December 2020. This indicates that the sector faces difficulties due to a lack of labour demand. Before the pandemic, there was a growing demand for workers in this field due to Canada’s ageing population. Orderlies, nurse aids, and patient care assistants (24,100), as well as registered nurses, psychiatric nurses (22,800) and registered nurses (22,800), were among the professions that had the highest number of vacancies in the quarter ending March 31, 2021.
Food and lodging services accounted for more than 25 per cent of the growth in all job vacancies in the last two years. Statistics Canada explains the higher number of job openings was likely a result of staffing difficulties due to the reopening of businesses in the industry during the summer and the sector that typically has a higher demand for labour during the summer.
One approach employers can use to fill vacant positions is by offering more pay. Statistics Canada explains that the record-high levels of job vacancies have raised awareness of the extent of labour shortages that could cause an increase in wages. Between Q3 2019 and Q3 2020, The Consumer Price Index (CPI), used to gauge inflation in Canada, was up 4.3 per cent. In addition, wage growth was more significant than CPI increases in 155 373 professions where wage information was available during the comparison period. The most significant increase in job openings included construction trades assistants and workers, cooks, salespeople, nurses’ aids, orderlies, and patient service assistants. The median salary offered to these positions was increased by 9.7 per cent, and the hourly average wage for all workers in these professions rose by 8.4 per cent.
Statistics Canada concluded the report by saying that the country’s employment conditions have improved until the final quarter of the year 2021. For instance, the unemployment rate was 6.0 per cent and is in the range of 0.3 per cent of its pre-COVID rate. February 20, 2020, the rate was 5.7 percent.
However, it is vital to note that Canada is witnessing a rise in cases of COVID-19, and the Omicron variant is becoming increasingly common. This has led to more security measures for the public that can impact Canada’s job outlook in the future Statistics Canada research.
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