Vacancies in Canada have reached record highs. Exceptionally high vacancy rates have remained stable or increased over the five consecutive quarters. The Canadian Federation of Independent Business tracks employment and market statistics within the Help Wanted report. A recent report found that 433,000 jobs were left vacant within the Canadian private sector within the half-moon . the amount of vacancies increased by 15,000 compared to vacancies within the same quarter in 2018.
The total number of vacancies has increased by 1,500 since the second quarter of 2019. Small businesses with fewer than five employees have the foremost difficulty finding candidates to fill vacancies. This trend means industries made from many small businesses have more vacancies than large businesses.
The highest percentages of unmet positions are within the personal service industries. The percentage for occupations like dry cleaners, funeral services and hairdressers was 4.9% between July and October in 2019.
The construction industry has the second largest need for workers with a percentage of roughly 4.7%. Companies within the hotel sector have a mean percentage of 4.0%. The agricultural sector has an overall percentage of three .7%. the knowledge sector posted a percentage of two .4% after a pointy increase in vacancies within the third quarter of 2019.
Many Canadian industries are experiencing a decline in vacancies and have very low vacancy rates. natural resources industries have a small percentage of 1.8%, while the retail sector is merely slightly higher at 2.5%. Firms within the wholesale trade and transportation sectors posted consistently low job vacancy rates, at 2.8% and 2.6%, respectively.
Quebec still has the tightest job market in Canada with only 4% percentage within the province. Ontario’s 3.2% rate is that the national average. British Columbia has not seen much change in its market and continues to possess a percentage of three .8%. Newfoundland, Labrador and therefore the Prairies experienced a small increase in vacancies, but the three provinces still have rates below the national average. No other province experienced market changes in 2019 during the second or third quarter.
Vacancy rates affect the wages of the whole Canadian workforce. a corporation with a minimum of one vacant position tends to extend wages by about 2.3% across the organization. Companies with 100% employment capacity and no vacancies are expected to boost wages by 1.4% or less.
The Canadian Federation of Independent Business analyzes several factors that influence the share of job vacancies in various industries. the foremost important factors include future prospects, company size and expected growth rates. Jobs that are unique to an industry or that need specialized skills also are an element in vacancy rates.