Canada Makes a Record with High Job Vacancies in Q3 2021

Canada made a record by issuing 912,600 work vacancies in the third quarter of 2021, as indicated by the latest Statistics Canada report.

This happened as Canada’s economy kept on recuperating in the midst of the facilitating of general health limitations. The record-significant degree of occupation vacancies was because of development in generally speaking business and falling joblessness.

Statistics Canada takes note of the 912,600 work vacancies in Q3 2021 which was 62.1 per cent higher (349,700 additional positions) than in Q3 2019. Relatively, the biggest expansion in work vacancies was in Saskatchewan, trailed by Quebec, and Ontario.

Canada job vacancies expanded in 18 out of 20 significant industrial areas between Q3 2019 and Q3 2021. Five areas represented almost 68% of the increment: accommodation and food services, health care and social assistance, construction, retail trade, and manufacturing.

Health care and social assistance are confronting critical workforce pressure. There were 118,200 vacancies in Q3 2021, and finance business came to pre-COVID level in December 2020 which demonstrates the area is confronting difficulties concerning neglected work demand. Indeed, even preceding the pandemic, there was a developing requirement for labourers in this area because of Canada’s maturing populace. Nurse aids, orderlies, and patient service associates (24,100) and enrolled nurses and enlisted psychiatric nurses (22,800) were among the occupations with the most vacancies in Q3 2021.

Accommodation and food services represented right around 25% of the expansion in all work vacancies in the course of recent years. Statistics Canada clarifies the more significant level of occupation vacancies was reasonable due to staffing difficulties connected with organizations returning in the area over the late spring and the area for the most part encountering more grounded work demand over the late spring.

One way businesses can address work vacancies is by offering higher wages. Statistics Canada clarifies that the record-high work vacancies have expanded considerably on how much work deficiencies might add to up tension on compensation. Between Q3 2019 and Q3 2021, the Consumer Price Index (CPI), which is utilized to quantify expansion in Canada, expanded by 4.3 per cent. Wage development surpassed CPI development in 155 out of 373 occupations for which wage information was accessible in the correlation time frame. The biggest expansions in work vacancies included construction trades helpers and workers, cooks, retail salespersons, and nurse aides, orderlies and patient service associates. The normally offered wage for these occupations expanded by 9.7 per cent and the normal time-based compensations for all representatives in these occupations expanded by 8.4 per cent.

Statistics Canada finished up the report by expressing Canada’s work economic situations have been working on all the way to the finish of Q3 2021. For instance, the joblessness rate remained at 6.0 per cent which is inside 0.3 rate points of its pre-COVID February 2020 degree of 5.7 per cent.

Then again, it is essential to see that Canada is encountering a resurgence in COVID cases with the Omicron variation additionally turning out to be more predominant. This is bringing about expanded public wellbeing estimates which might affect Canada’s business picture in resulting Statistics Canada research.