Job vacancy levels in Canada remains at historic highs
Canada maintains its job vacancy levels at its historic highs in the third quarter of 2019. In fact, there were more than 433,000 vacant positions left unfilled for the given period in 2019. Currently, Canada has the highest level of vacant jobs in its private sector.
According to the research carried out recently by the Canadian Federation of Independent Business, there were nearly 433,000 vacant positions left unfilled in the third quarter in 2019. The report, so-called Help Wanted, illustrates that this figure is more than 15,000 jobs higher compared to 2018.
Ted Mallett, CFIB’s chief economist states that that is now the fifth consecutive quarter in which they are seeing such highest vacancy rate. He also noted that even the smallest firms having less than 5 employees were having difficult time to hire employees which made up the vacancy rate as high as 5.4%.
Job vacancy levels in Canada | Provincial shares
Like previously reports stated, Quebec again had the highest vacancy rate within all provinces of Canada. Having the highest labor market rates at 4%, Quebec is followed by British Columbia which remained at 3.8 percent. The statistics showed that, in a national average, Ontario holds the third position being one of the provinces with the highest vacancy levels at 3.2 percent.
Although the Prairies and in Newfoundland and Labrador keep remaining below the national average figure, there also was a slight increase compared to the last data. Let us note that there was no difference in the rates for the remaining Canadian provinces as they kept their vacancy level unchanged between the second and third quarter of 2019.
Job openings – rates by industries across Canada
Interestingly, compared to larger businesses in certain fields, there was a higher vacancy rate in industries with many small-sized firms.
When we look at the current trends, we can see that there was an increase in agriculture, information, and hospitality while a decrease in the manufacturing, wholesale sectors.
However, between July and October 2019, the highest rate for vacant positions was recorded in the personal services industry. Let us note that the sector refers to small businesses, such as hairdressers, dry cleaners and funeral services and etc.
Following the personal services industry the second-highest rate for vacancy figures was in the construction industry with 4.7 %. In addition, during the third quarter of 2019, all the following services including hospitality (4.0 %), agriculture (3.7 %) and information (2.4 %) saw significant growth.
Nevertheless, there were also some industries that felt a declining trend. These include transportation (3.4 %), manufacturing (2.8 %), wholesale (2.6 %) and as well as retail (2.5 %). It seems that the natural resources field was the highest preferred by job seekers since it had the lowest rate at 1.8%.
Having said that, wages correlate strongly with vacancies. For example, companies having a minimum of one vacancy can increase the organization-wide salaries by 2.3 percent while this figure for a certain firm with no job openings can be 1.4 percent.