Canadian Job Vacancies Have Reached Another All-Time High

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Statistics Canada has released the results of the Job Vacancy and Wage Survey report for the second quarter of 2022. Overall, vacancies were up 4.7% from the first quarter of 2022 and 42.3% higher than the second quarter of 2021.
There are nearly one million job vacancies in Canada across all sectors, or an overall rate of 5.7%, an all-time high. Vacancies are calculated as the number of vacant positions as they correspond to total labour demand.
Jobs in five sectors were most likely to reflect a wage increase. The professional, scientific, and technical sectors saw the largest increase, 11.3%, to an average hourly wage of $37.05. Wholesale trade jobs average $26.10 per hour.
Conversely, retail trade job wages rose only 5.7%, lower than the CPI, and healthcare and social assistance rose only 3.6% over last year to $25.85. Overall, most job vacancies report hourly wages that are on par with, or below, the CPI for the second quarter of 2022.
Job vacancies rose in six provinces between the first and second quarters of 2022. Ontario saw the most significant increase, rising 6.6% to a total of 379,700 job vacancies. Nova Scotia also experienced a rise of 6%. British Columbia, Manitoba, Alberta, and Quebec saw rises between 5.6% and 2.4%.

The only province to show a decrease in job vacancies was New Brunswick, which dropped 6.1% to 15,200 open positions. There was no notable change in the remaining provinces and territories.

The high job vacancy rate combined with the low unemployment rate means some employers are having difficulties filling vacant positions and experiencing a longer hiring process. Through the second quarter, there were only 44 people hired for every 100 vacancies. Canada’s labour shortage is expected to become more acute into 2030 as over nine million Canadians reach the retirement age of 65 and the birth rate remains low at 1.4 children per woman.

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