Employers in Canada need more workers now since job vacancies increased by 3.4% in January after declining for six months. The sudden spike is caused by the growth in the provinces of Newfoundland & Labrador and Quebec.
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In January, the total number of job vacancies in different sectors of Canada amounted to 883,200.
According to Payroll Employment, Earnings and Hours, and Job Vacancies, January Report 2023, the spike in job vacancies was mainly because of openings in the healthcare and social assistance and transportation and warehousing sectors.
According to the Statistical and demographic services agency, job vacancies all over the country grew by 29,000 positions.
However, there are not enough qualified workers to fill the growing number of job openings. As a result, the job vacancy rate remained unaffected at 4.9% in January.
In addition, the number of employees earning pay or benefits by working for an employer increased by 71,100, indicating a 0.4% rise in January. In December 2022, it grew by 0.3%, that is i.e., 53700, according to Statistics Canada.
To sum it up, overall payroll employment has increased over the last five months, contributing to cumulative gains of 275,400 jobs or 1.6% from September 2022 to January 2023.
The latest Labour Force survey confirms that unemployment within the Canadian labour market remains steady at 5%.
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