Statistics Canada has released the results of the Job Vacancy and Wage Survey report for the second quarter of 2022. Overall, job vacancies increased by 4.7% compared to the first quarter of 2022 and by 42.3% compared to the second quarter of 2021.
There are nearly one million job vacancies in Canada across all sectors, an overall rate of 5.7%, an all-time high. Vacancies are calculated as the number of vacancies as they correspond to the total labor demand.
Starting in the first quarter of 2020, labor demand growth outpaced wage employment growth, resulting in the current record number of job vacancies.
Wage increases in some sectors do not match the consumer price index
The report found that the average hourly wage offered across all industries rose 5.3% in the second quarter of 2021. It currently stands at $24.05 per hour. This increase is different from the average hourly wages of all employees, those currently employed, which increased by only 4.1% in comparison.
These increases do not match the rise 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 were most likely to reflect an increase in wages. The professional, scientific and technical sectors experienced the largest increase, at 11.3%, to reach an average hourly wage of $37.05. Wholesale jobs cost an average of $26.10 per hour.
Conversely, wages for retail jobs rose only 5.7%, less than the CPI, and health care and social assistance rose only 3. 6% from last year to reach $25.85. Overall, the majority of vacancies are reporting hourly wages that are at or below the CPI for the second quarter of 2022.
Job vacancies increase in six provinces
The number of job vacancies increased in six provinces between the first and second quarters of 2022. Ontario recorded the largest increase, rising 6.6% to a total of 379,700 job vacancies. Nova Scotia also saw a 6% increase. British Columbia, Manitoba, Alberta and Quebec recorded increases between 5.6% and 2.4%
The only province to show a drop in job vacancies was New Brunswick, which fell 6.1% to 15,200 job vacancies. There were no notable changes in the other provinces and territories.
There was an average ratio of 1.1 unemployed for every job vacancy in Canada. This is down from 1.3 people for every job in the first quarter of 2022 and 2.3 people from the same period last year.
Quebec and British Columbia report only 0.8 people for every vacancy. Conversely, Newfoundland and Labrador is outside the average with 3.3 unemployed for each job vacancy.
Job offers by sector
Health and social assistance
There was little change in the number of vacancies in the health and social assistance sector between the first and second quarters of this year, 135,300 to 136,100, or almost 6%. However, it is up nearly 29% from the second quarter of 2021. A staffing shortage has forced some hospitals to cut services, such as temporarily closing emergency rooms.
Manitoba has the highest vacancy rate in the health sector at 6.7%.
Accommodation and food services
Job vacancies in the accommodation and food service industry rose 12.7% to 149,600 job vacancies in the second quarter, for an overall job vacancy rate of 10.9%. This is the highest job vacancy rate of any industry and is particularly pronounced in the Kootenay region of British Columbia.
Professional, scientific and technical services
Jobs in this sector hit a high of 74,600 vacancies, up nearly 8% in the last quarter and 79% more than in the first quarter of 2020. Toronto, Montreal and Vancouver and surrounding areas accounted for more than half of these posts. vacant jobs.
The largest increase was recorded in natural and applied science occupations, at 13.3%. Technology occupations in the natural and applied sciences also increased significantly this quarter to 9.6%.
What does it mean?
The high vacancy rate combined with the low unemployment rate means some employers are having difficulty filling vacancies and are experiencing a longer hiring process. During the second quarter, there were only 44 people hired for every 100 vacancies. Canada’s labor shortage is set to worsen in 2030, as more than nine million Canadians reach retirement age 65 and the birth rate remains low at 1.4 children per woman .
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