Canada Job Vacancies Drop To Their Lowest Level In More Than Two Years

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Statistics Canada has reported that unfilled jobs were less abundant in Canada in August this year than at any other time in more than two years – since May 2021 – as the number of job vacancies continued its downward spiral.

The statistical and demographic services agency of the federal government notes there were 682,400 job vacancies in Canada in August, down from 697,900 in July.

That put the number of job vacancies in Canada in August scarcely above the 673,400 in May 2021.

“The largest monthly declines in vacancies in August were observed in manufacturing, down 5,900 positions or 11.5 per cent, followed by information and cultural industries, down 3,300 positions or 36.7 per cent utilities, utilities which were down 1,700 positions or 54.7 per cent and agriculture, forestry, fishing and hunting, down 1,700 positions or 16.8 per cent,” notes Statistics Canada.

“These decreases were partially offset by an increase in vacancies in finance and insurance, which added 4,400 positions or 20.4 per cent, and management of companies and enterprises, which rose by 700 positions or 32.5 per cent.”

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Compared to the same time last year, there were fewer jobs up for grabs in Canada in August in 17 out of 20 sectors.

The biggest drop in job vacancies in the past year was the retail industry where available jobs fell by 38,800 or 36 per cent year over year.

The accommodation and food services had 38,700 or 31.4 per cent fewer job vacancies in August this year compared to a year ago, manufacturing had 35,700 fewer job vacancies or 44.1 per cent less, and unfilled positions in the professional, scientific and technical services fell by 20,700 or 32.9 per cent.

The downwards trend in job vacancies in August also came as employers were shedding jobs.

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“The number of employees receiving pay and benefits from their employer, measured as ‘payroll employment’ in the Survey of Employment, Payrolls and Hours, declined by 46,800 or 0.3 per cent in August, following little change in July,” notes Statistics Canada.

Earnings for workers in Canada, which had been climbing earlier this year, were flat in August.

“In August, average weekly earnings were $1,218, little changed compared with the previous month. On a year-over-year basis, growth in average weekly earnings was 4.2 per cent in both July and August,” notes Statistics Canada.

While labour shortages across the country seem to be getting somewhat less acute as the job vacancy rate drops, the number of unemployed persons showed little variation in August.

Alberta Only Province To See Uptick In Job Vacancies In August

Across the country, the number of job vacancies dropped in three provinces and increased in only one.

“In Quebec, the number of vacancies fell by 19,300 or 10.8 per cent to 159,000 in August, the third monthly decrease in four months, bringing the cumulative decline to 43,900 or 21.6 per cent since May,” notes Statistics Canada.

“Manitoba, which shed 2,700 positions to 20,600, and Prince Edward Island, where job vacancies fell by 800 to 1,900, also recorded decreases in job vacancies in August. Meanwhile, job vacancies increased in Alberta, up 7,500 positions to 88,700, while they showed little change in the other provinces.”

In August, the job vacancy rate was highest in Saskatchewan at 4.7 per cent and British Columbia at 4.2 per cent while it was lowest in Prince Edward Island at 2.7 per cent and Newfoundland and Labrador  at 2.9 per cent.

Foreign nationals can gain their permanent residency in Canada by immigrating through the country’s many economic immigration programs.

Under the Express Entry system, immigrants can apply for permanent residency online if they meet the eligibility criteria for one of three federal immigration programs, the Federal Skilled Worker Program (FSW), Federal Skilled Trades Program (FST), and Canada Experience Class Program (CEC),  or a participating provincial immigration program.

PNPs Offer Route To Economic Immigration For Skilled Workers

Candidates’ profiles then are ranked against each other according to a points-based system called the Comprehensive Ranking System (CRS). The highest-ranked candidates will be considered for an Invitation to Apply (ITA) for permanent residence. Those receiving an ITA must quickly submit a full application and pay processing fees, within a delay of 90-days.

Through a network of Provincial Nominee Programs (PNP), almost all of Canada’s ten provinces and three territories can also nominate skilled worker candidates for admission to Canada when they have the specific skills required by local economies. Successful candidates who receive a provincial or territorial nomination can then apply for Canadian permanent residence through federal immigration authorities.

Canadian employers can also recruit and hire foreign nationals through the Temporary Foreign Worker Program (TFWP) and the International Mobility Program (IMP).

The Global Talent Stream (GTS), a part of the TFWP, can under normal processing situations lead to the granting of Canadian work permits and processing of visa applications within two weeks.