Canada continues to experience over 1 million job vacancies in 2022

Key aspects of Canada’s job vacancies

• Canada is set to invite the highest number of permanent residents in 2022, aiming a target of 430,000 to fill up the job vacancies and meet the needs of the country
• The number of employees receiving pay or benefits from their employer has decreased in which 26,000 jobs are no longer in payroll
• Overall employment rate in the retail trade sector is currently six percent higher than it was in May 2021
• 9,600 job opportunities were listed in the retail sector in March 2020
• The retail trade sector has recorded a massive increase in the weekly earnings for May 2022, more than 9.3 percent
• TFWP and IMP are the two main ways to hire Foreign Nationals
• Quebec’s hospitality sector has soared with 20,400 new paid jobs in food services and accommodation in March 2022

Overview:

According to Canadian Statistics, the job vacancies in Canada have increased to a new record, and there were higher number of paid jobs in all ten provinces of Canada except two in the month of March and the country is still facing high job vacancies with low employment rate in majority of the sectors, for the first time since May 2021.

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1 million job vacancies in Canada

According to the Survey of Employment, Payrolls and Hours (SEPH) calculation, the number of employees receiving pay or benefits from their employer has decreased for the very first time in 2022 in which 26,000 jobs are not on payroll anymore. The massive decreases were primarily seen in Ontario and Manitoba, reporting 30,000 and 25,000 job vacancies. Among all provinces, British Columbia was the only province which experienced an increase in payroll employees.

In March, the job vacancies increased by 22.6 percent, with more than 186,400 vacancies and up to 60.5 percent of 382,000 positions were vacant in the same month last year.

The job vacancy rate provides an estimated number of all vacant jobs divided by the job opportunities in Canada, where the job vacancy rate stood at 5.9 percent in March, holding the same record high in September 2021.

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Job opportunities according to March 2022

The demographic and statistical services agency has promoted the increase in paid employment in Canada to relax the pandemic restrictions.

“The number of employees who are receiving benefits or pay from their employer, is measured by the Survey of Employment, Payroll and Hours (SEPH) as a payroll employment, that have increased by 118,100 (0.7 percent) in March 2022,” states Statistics Canada.

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Increasing payroll employment has coincided with the continued relaxation of public health measures. The remaining capacity limits have affected the business operations, generally lifted by the first two weeks of March 2022.

The Canadian provinces like Manitoba, Saskatchewan, and Nova Scotia were the only ones to experience the change in paid jobs. However, in March, Quebec’s hospitality sector has soared with 20,400 new paid jobs in food services and accommodation.

In March, the service sector added 103,400 jobs that are growing by 0.7 percent. The job growth in food services and accommodations had 46,200 paid employments, and the retail trade rose by 14,800 jobs that same month.

Retail trade continues to face a higher rate of employment than 2021

The province of Ontario has reported a massive decrease in the retail trade employment sector, marking a decrease in payroll employees twice consecutively since the past two months in the retail trade profession. Simultaneously, the overall employment rate is currently six percent higher than it was in May 2021.

However, a few provinces like Ontario, New Brunswick, Quebec, Newfoundland and Labrador, and British Columbia, reported increase in employment in the retail trade.

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Among all the other sectors, a few sectors like professional, scientific, and technical services have experienced a profit of over 10,000 jobs and have also recorded the highest increase in their average weekly earnings every year, especially in IT occupations like computer systems design and related services that increased by eight percent.

In 2020, even before the pandemic, 9,600 job opportunities were listed in the retail sector in March. The rest of the provinces except Manitoba and Ontario had more jobs in the retail sector in March compared to February.

Average weekly earnings increase by 2.5%

Besides the unemployment factor, the retail trade sector has recorded the biggest increase in weekly earnings for May 2022, which is up 9.3 percent over the same period in 2021 and the wages for professional, scientific, and technical services increased by 8.1 percent. In comparison, a massive decrease in average weekly earnings was recorded in sectors like recreation, arts, and entertainment industries that decreased by 9.7 percent.

According to the reports, the average weekly earnings of employees was increased by 2.5 percent from the April 2022, which was a result of employment changes for workers or an increase in wages. This report has stated that the higher average is not because of an increase in working hours, as it remained the same as April, 2022 at 1.5 percent above pre-pandemic levels.

The year-over-year increases in the overall trend continuation is displayed by this data. In May 2022, New Brunswick showed a huge increase compared to 2021

This data also shows a continuation of the overall trend toward year-over-year increases. In May, New Brunswick reported the largest increase compared to May 2021, with an increase of 7.4 percent, followed by Newfoundland and Labrador at 5.9 percent. Seven other Canadian provinces also saw year-over-year increases in their average wages.

Higher job vacancies in the healthcare sector

The unemployment rate in Canada hit a record-low 5.1 percent earlier this year and further dropped to 4.9 percent in June 2022. As per the reports of the survey, the rate of job vacancies in the sectors of health care and social services, has increased to 143,000 (6.1%) vacancies. So far, this has been a significant rate of job vacancies since April, which saw an increase of 5.4% and 20% comparatively higher than that in May 2022.

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In May 2022, the job vacancy rate of the provinces of Manitoba and Nova Scotia was over 10 percent, in which the sector of accommodation and food services recorded 161,000 job vacancies marking the thirteenth month in a row to stand with the highest number of job vacancies.

Both Nova Scotia and Manitoba had job vacancy rates of over 10% in May, largely within the accommodation and food services sector, which reported 161,000 job vacancies. This is the thirteenth month in a row accommodation and food services have had the highest number of vacancies.

High job vacancies and low unemployment rate

According to the statistics, Canada has been experiencing over one million job vacancies since April, 2022, increased by 300,000 since May, 2021. “The combination of a low unemployment rate and high job vacancies is leading to an increasing labor shortage and the need for Canada’s immigration as the country’s workforce is reaching its retirement age,” states the Labour Force Survey for May 2022.

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Currently, Canada is set to invite the highest number of permanent residents in 2022 aiming a target of 430,000, which will continue increasing to over 450,000 by the end of 2024.

TFWP and IMP are the two main ways to hire Foreign Nationals

The Temporary Foreign Worker Program (TFWP) and the International Mobility Program (IMP) are the two fundamental ways employers hire foreign nationals.

The Global Talent Stream (GTS) is a part of the TFWP. Under normal processing situations, it can complete the Canadian work permits and visa application procedures within two weeks.

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The employers are permitted to invite foreign nationals to occupy the available positions through the Express Entry System, which accepts immigration applications online.

*For more information on the latest updates, visit the Y-Axis blog page…

The eligible applicants must submit an online profile, known as the Expression of Interest (EOI), under a participating provincial immigration program or one of the three federal immigration programs, to the Express Entry Pool.

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