Job vacancies stayed high in July 2022, with payroll employment continuing to rise
Updates regarding job vacancies in Canada
Following July 2022 the number of Job vacancies in Canada experienced a drop of nearly 73,000 jobs, however at the same time the overall job vacancies also increased by over 130,000 positions in comparison to last July 2021 with accommodation and food services, and healthcare and social assistance industries having the most vacancies in July 2022.
Although the accommodation and food service sector has filled over 20,000 available job spots despite that, the job vacancy rate still stands at 10% while the healthcare and social assistance experienced little change in its job vacancy rate which was 6% in July 2022.
Implications
Having so many job vacancies is a good indicator for potential job seekers as it means Canada is maintaining a solid hiring climate. The accommodation and food services, and healthcare and social assistance industries in particular have a very high demand for workers due to the decrease in job vacancies not having much impact on the job vacancy rate of both industries. This is causing major problems in the two very important Canadian industries especially due to interruptions in hospital services (including emergency rooms) and it has reached a point where Canada has decided to remove barriers to permanent residence (PR) for physicians who are already in the country to deal with staff shortages.
Opportunity waiting in Canada
Another trend that is greatly affecting the hiring climate within Canada is that employers report a huge skills gap among employees. In 2021 it was reported by over half of the Canadian businesses (56.1%) that the overall workforce was lacking in terms of performance up to industrial standards.
As an example, within the accommodation and food service sector over three, fourths of the employers (78.8%) have reported their workforce having skill gaps or example—in the accommodation and food services sector—78.8% of employers reported skills gaps in their workforce, the highest rate out of any industry and it is the same for many other companies as well.
Currently, Canada is aiming to reduce these labor and skill shortage problems by accepting more foreign workers into the country. Its current target is to accept 430,000 immigrants annually but this is expected to change when the immigration levels plan 2023-2025 is tabled on 1st November.
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