Sky-rocketing increase in Job vacancies
Over the last month from May 2022 to June 2022 the entire country of Canada has achieved a rise of 3.2% in its Job vacancies resulting in the country having over 32,200 unappointed jobs. This has also led the country to experience over one million Job vacancies over the past three months.
Moreover, with the vacancy rate going up to 5.9% this June which is comparable to a high record set in September 2021 it is expected that a majority of Canada’s labor demand (Total number of jobs both available and taken) will be made up of available jobs.
Major rise in job vacancy rate in Health care and social support sectors
The Health care and Social support sectors have experienced a huge leap of over 6% in their Job vacancy rate. This sets their Job vacancy rate at 40.8% following the previous June. This has left Canada with 149,700 jobs yet to be assigned.
Further examples of sectors experiencing high Job vacancy rates;
Accommodations and Food:
Even worse off than the health care and Social support sector, we have the Accommodation and Food sector. This sector is experiencing even higher levels of Job vacancies with 171,700 available jobs during June, which is 6.6% higher than the May update made by StatsCan. Following this information, this sector’s Job vacancy rate can be totaled up to 12.2% within this timeframe.
Retail trade:
This industry has also experienced a major rise of 22.5% in Job vacancies following June 2021 resulting in there being 114,400 more vacant jobs which just so happens to be 5.4% more than in May in which there were around 15,200 unfilled jobs.
Results that may follow these circumstances:
From the information mentioned above, it can be considered a fact that the ratio of unemployment-to-job-vacancy has reached an all-time low of 1.0 and it is predicted that the number of Job vacancies will continue to increase as time goes on.
In response to this, the Canadian government has decided to resort to immigration as a possible solution to this problem. They have decided to take in a large number of foreigners as permanent residents in hopes of having them fill in the gaps in their country’s workforce.
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