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Canada had more than 1 million recruitment positions as of September

Canada had more than 1 million recruitment positions as of September

According to Statistics Canada's job vacancy report, more firms are recruiting, but there are still a lot of open opportunities. According to a new Statistics Canada report, Canada's economy is still recovering from the coronavirus outbreak.

In September, 91,100 individuals were added to payrolls across Canada, marking the fourth consecutive monthly rise. In eight provinces, payroll employment grew. With nearly 43,000 new employees added to payrolls, Ontario took the lead. The provinces of British Columbia (BC)
and Quebec came in second and third, respectively.

The services-producing sector, notably lodging and food services, public administration, and banking and insurance, drove job growth across the country. The reopening of the Canada-US border in August, as well as the relaxation of travel restrictions for Canadians, according to Statistics Canada.

Job shortages are still a problem. At the start of September, there were over 1 million job openings. In the lodging and food sector, there were over 200,000 job openings, with a 14.4% employment vacancy rate. The job vacancy rate is calculated by dividing all vacant positions by the total number of vacant and occupied positions.

Over half of organizations in the hospitality and food service industries said they expect to have difficulty finding qualified workers. Only 30% of all other businesses have expressed similar worries.

In September, there were approximately 130,000 vacancies in health care and social support, roughly doubling the entire number of vacancies in the third quarter of 2019. In September, there were roughly 122,000 vacancies in the retail industry.

Meanwhile, the construction and manufacturing industries each had over 80,000 job openings.

According to Statistics Canada, an increase in job vacancies may indicate increased economic activity and hiring as firms fill new positions. It could also indicate growing fundamental labour market imbalances, such as skills shortages and regional mismatches between job openings and available workers.

It could also indicate a shift in workers' willingness to accept lower earnings, longer hours, and other characteristics linked with job openings.

In September, payroll employment in lodging and food services climbed by 19,800, with the majority of the growth (+13,000) occurring in food services and drinking establishments.

Following the reopening of the Canada-United States border on August 9 to allow fully vaccinated Americans to enter Canada without having to go through quarantine, restrictions on travellers from all over the world were eased on September 7, potentially boosting tourism activity, including in the food and lodging industries.

In September, payroll employment in the lodging and food services sector increased in seven provinces, with Ontario (+8,600) and Quebec (+4,200) seeing the highest gains. Total employment in the sector was 14.8% lower than it was in February 2020, before the epidemic.

In September, payroll employment in the arts, entertainment, and recreation sector climbed by 9,500, with all provinces except Alberta (-700) reporting gains. Nationally, nearly all of the gain was observed in the amusement, gambling and recreation subsector (+8,800).

In September, payroll employment in finance and insurance increased by 14,700 (+1.9%), with gains across most subsectors, with credit intermediation and related activities (+9,000) and insurance carriers and related activities (+4,300) leading the way. The majority of the increase came from Ontario (+7,700) and Quebec (+3,600).

Since March 2021, payroll employment in the finance and insurance sector has been higher than it was before COVID, and was 3.3 per cent higher in September than it was in February 2020.

In September, payroll employment in professional, scientific, and technical services increased by 9,100 people (+0.9%), with gains across the board, including architectural, engineering, and related services (+2,900) and computer systems design and related services (+2,700).

Payroll employment in professional, scientific, and technical services increased by 8.1 per cent in September compared to February 2020. Of all sub-sectors, scientific research and development services were furthest above their pre-pandemic level (+8,100).

Establishments in this industry conduct research and experimental development in a variety of areas such as chemistry, medicine, health, biotechnology, and pharmacy.

Even as employment and unemployment continue to recover from the impact of COVID-19, the Canadian labour market has seen a substantial spike in job vacancies in recent months, similar to other economies.

Increases in job vacancies, in general, might indicate a number of things. To begin with, such gains may indicate an increase in economic activity and hiring, as firms fill new positions.

Second, a surge in job openings may indicate new or worsening structural labour market imbalances, such as skill shortages or geographic mismatches between available positions and employees who can fill them.

Third, rising vacancies may signal a shift in workers' willingness to accept the salary, benefits, and working conditions connected with a particular employment.

While monthly JVWS findings are sufficient for tracking changes in overall vacancy levels, quarterly results provide the occupation, pay, and geographic information connected with each vacancy.

The results for the third quarter (July to September) will be revealed on December 20 and will provide insight into the causes that have contributed to the recent increase in unmet labour demand, as well as the implications of this unmet demand for businesses, workers, and the broader economy.

Recent immigrants continue to have a high employment rate. The number of very recent immigrants to Canada has increased in recent months after coming to a halt in 2020. Despite only receiving 184,000 newcomers last year, Canada has already welcomed 267,000 permanent residents this year.

Statistics Canada classifies those who have been in Canada for less than five years as "very recent immigrants." In October, there were more very recent immigrants than the previous year, and they were more likely to be employed.

This group of immigrants had a 71 per cent employment rate, which was six percentage points higher than in October of this year.

The employment rate for immigrants who had been in Canada for more than five years was 80%. The Canadian-born population had an employment rate of 61 per cent on the dot.

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