4,00,000 New Jobs Added By Ontario & Saskatchewan Resulting into High Vacancies

400,000 new jobs have been created in Canada as a direct result of the country’s recent economic growth. Within just a month-over-month, job vacancies increased in Ontario by +7.4% and in Saskatchewan +12.2%, hence making them the two main provinces with job openings.

• According to the latest job figures released by the Canadian government, the number of vacant positions in the country has increased by 3.8% in September. This means that there are currently 994,800 job vacancies across all sectors in Canada.

• The majority of these vacancies are in the provinces of Ontario and Saskatchewan. In Ontario alone, there are 40,000 new job vacancies that need to be filled.

• There has been a 25% increase in vacant jobs in the Health care and Social Assistance sector every year. This trend is expected to continue as the population ages and more people require health care services.

• The vacancy rate for the Retail trade sector is 5.5% and is continuing to increase. This is due to the fact that more and more businesses are moving online and there is less need for brick-and-mortar stores.

The Professional Scientific and Technical services sector has an increasing 5% job vacancy rate and has an ongoing demand for workers.

Payroll employment has been maximised by 0.5% for Alberta, British Columbia, and Quebec in September for almost all sectors.

There was an average of 1.0 unemployed people for each job vacancy in Canada, down from 1.3 in August, indicating that the number of unemployed people has decreased relative to the number of vacancies.

The ratio of unemployed people to job vacancies varied across Canada in September.

In Quebec and British Columbia, the two provinces with the highest job vacancy rate, the ratio declined to 0.7 in September, after having reached 1.0 in August.

Newfoundland and Labrador had the highest unemployment-to-job vacancy ratio (3.1) in September.

Sectors with highest Job vacancies:

Social assistance and healthcare

The social assistance and healthcare sectors have been hit hardest by the pandemic, with a record-high 159,500 jobs remaining open in September. This is 25% higher than pre-pandemic levels, and reflects the ongoing high demand for professionals in these industries (such as doctors, nurses, physicians, surgeons, etc.).

In order to help alleviate labour shortages and attract more professionals to immigrate to Canada, the government has eliminated many of the obstacles to obtaining permanent residence (PR). This should make it easier for experts in these fields to move to the country and help meet the high demand for workers.

Food services and Accommodation

The Bureau of Labor Statistics has reported that the number of open positions in the lodging and food service industries increased by 12% in September. This is likely due in part to seasonal considerations, but there has also been an overall increase in hiring and employment in these sectors.

This is good news for those seeking employment in these industries, as job prospects are looking positive. Employment and job openings in the sector have remained high, indicating that there will be plenty of opportunities available in the near future..

Retail Trade

117,300 job openings were available in the retail sector in September. Like the national average, there was a 5.5% job vacancy rate in this field. This indicates that there is always a need for skilled workers in retail.

Technical services and Professional Scientific

The scientific and technical services industry is one that always has a demand for workers. This includes fields like legal services, accountancy, architectural and engineering design, computer system design, management consulting, advertising, and public relations. In the September report, 61,900 open positions were reported, showing that there is still a high demand for workers in this industry. The job vacancy rate in this industry is 5%, which is the same as the national average. This means that we can expect hiring to continue in this industry in the months ahead.

Manufacturing

In September, there were only 76,000 job openings, down from 92,100 in August. The only industry where job vacancies were decreasing was manufacturing.

Decreasing job openings could be interpreted as an indication that hiring is increasing. However, gross domestic product (GDP) fell for the fourth successive month while the number of job openings decreased. GDP is a measure of all goods and services within an industry and reflects the value of all goods and services.

Consequently, job openings in this field are likely to decrease as the industry contracts.

Canada’s unemployment rate has decreased, but vacancies remain high

The most recent report from Canada shows that unemployment is declining while the number of vacant jobs and payroll employment remains the same. In September, the number of vacant jobs rose by 3.8% in most sectors.

Around 994,800 vacant jobs are open in Canada right now, with most of them being in Saskatchewan and Ontario.

The overall job vacancy rate is at 5.7%, which indicates that there are still employee shortages that need to be filled.

A note on payroll increases

According to the latest figures, the sectors that have seen the biggest increases in employment are healthcare and social assistance, accommodation and food services, and retail trade. This is very encouraging news for professionals in these industries, especially when you consider that all of these industries have also seen increases in job vacancies.

When you look at the bigger picture, you can see that all three of these sectors have experienced positive growth in terms of their RGDP (gross domestic product). This is further evidence that these are good industries to be in right now if you're looking for stability and growth.

These are promising signs that Canada is returning to its pre-pandemic economic output levels:

- Increases in job vacancies (hiring activities)

- Increases in payroll employees (people hired)

- Increases in the overall value of goods and services produced

Payroll employment is a key indicator of the health of a business, industry, or economy. An increase in payroll employment usually indicates that businesses are doing well and hiring new employees.

In September, payroll employment increased by 0.5% nationally, with the largest gains in Quebec, British Columbia, and Alberta. This is good news for the Canadian economy!.

Immigration continues to be a key concern in addressing labour shortages across the country.

The Canadian government and Immigration Refugees and Citizenship Canada (IRCC) are taking measures to combat a looming labour shortage, as more and more members of an aging Canadian population go into retirement.

Canada has unveiled plans for a significant increase in the number of immigrants entering the country, with a goal of seeing 500,000 people arrive each year by 2025.

Immigration Minister Sean Fraser said that Canada needs to "embrace immigration" in order to reach its full economic potential. He noted that there are currently a million job vacancies in the Canadian economy, and that immigration already accounts for nearly all of the country's labor force growth.