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Canada has over 1 million job vacancies still

Canada has over 1 million job vacancies still

While there are still many open positions in Canada, for the first time since May 2021, the employment rate is declining across most industries.

The May 2022 edition of Statistics Canada's monthly payroll employment, wages, hours, and job vacancy report has been made public.

The research indicates that for the first time since May 2021, fewer employees in Canada are receiving income or perks from their company.

According to the report, which was created using information from the Survey of Employment, Payrolls, and Hours, 26,000 positions were no longer being paid for as of last May. Ontario and Manitoba, which reported 30,000 and 2,500 job openings, respectively, experienced the largest drops.

The only jurisdiction to record an increase in payroll workers was British Columbia.Most sectors experience a decline in payroll personnel.

The services-producing sector, which reported a loss of almost 17,000 jobs on payroll in industries like educational services, healthcare, and social support, experienced some of the biggest declines.

Additionally, there was a large drop in employment in the construction industry as a whole. The number of jobs decreased by almost 17,500 in May, the first drop since July 2021.

Nearly two thirds of the decline in employment in the construction industry was attributable to the loss of the majority of positions there. This loss is mostly attributable to strikes that occurred across the province and that resulted in protracted delays on a number of projects.

The employment rate in the retail sector is still higher than in 2021. Additionally, Ontario saw the biggest drop in retail trade jobs across the nation. The number of payroll employees in the retail trade professions has fallen for the second consecutive month.

The overall rate of employment in the retail trade is still 6% greater now than it was in May 2021, though. Quebec, New Brunswick, British Columbia, and Newfoundland and Labrador all reported growth in employment in the retail trade, in contrast to Ontario.

The professional, scientific, and technological services industry was the only one to experience growth in each province, adding over 10,000 jobs, mostly in high-tech fields like computer systems design and related services.

Weekly earnings on average have increased by 2.5%. Despite the employment losses, retail commerce saw the highest gain in weekly earnings for May, rising 9.3 percent over the same period in 2021.

Professional, scientific, and technical service wages have increased by 8.1%. In contrast, the arts, entertainment, and recreation businesses had a reduction in average weekly wages of 9.7 percent.

Employees' average weekly wages have increased by 2.5% from the April report. This is probably a result of workers' changing jobs or higher salaries. According to the data, hours worked remained unchanged from April at 1.5 percent above pre- covid levels, indicating that the higher average is not the result of more hours worked.This information demonstrates a continuation.

The data also demonstrates the general trend of rises from year to year. When compared to May 2021, New Brunswick's gain in May was the biggest, reaching 7.4 percent.

Newfoundland and Labrador came in second place with 5.9 percent. The average wage increased year over year in seven additional provinces. The number of open positions in the healthcare industry is rising. May saw Canada's jobless rate drop to 5.1 percent, a record low (it dropped further to 4.9 percent in June).

According to the report, there are now 143,000 open positions—or 6.1 percent—in the health care and social services sectors. Compared to April's vacancy rate of 5.4 percent and May 2021's vacancy rate of 20 percent, this is a huge increase.

In May, there were 161,000 open positions in the lodging and food services sector in both Nova Scotia and Manitoba, which had job vacancy rates of over 10%. Accommodation and food services have had the highest number of vacancies for the thirteenth consecutive month.

In Canada, there are more than a million open positions. This is consistent with April data however, the number of open posts has increased since May 2021 by over 300,000.

The Lab-our Force Survey's estimate of the low unemployment rate and high job vacancy rate for May 2022 indicate a developing lab-our shortage in a number of industries and an increased demand for immigration to the country.

Canada’s is currently planning to invite its highest ever number of permanent residents in 2022 with a target of over 430,000. The target will continue to rise to over 450,000 in 2024.

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