The private sector in Canada reported a record rate of job vacancies in the first three months of 2019. Among the provinces, the highest number of job vacancies in Canada was reported in Quebec, says a news update by the Canadian Federation of Independent Business (CFIB). The update further reveals that a total of 435,000 job vacancies in Canada were reported in the first four months of 2019, which has put the job vacancy rate in the country at 3.3.percent.
Ted Mallet, vice-president and chief economist of the CFIB was quoted as saying by the CIC News that Canada job vacancy rate had been climbing steadily in the past two years and reached a record high last quarter. The update from CFIB also observes that the labour shortages affected skilled positions more, compared to semi and unskilled occupations. The labour shortages are also putting pressure on employers to increase wage levels.
Despite the fact that Canada job vacancy rate is coming down compared to the same period in 2018, labour shortages continue to be a challenge, especially in Quebec, British Columbia and Ontario. Quebec witnessed the highest level of labour shortage with the job vacancy rate reaching 4.1 per cent in the first quarter of 2019. The second-highest job vacancy rate was reported by British Columbia at 3.6 per cent. Ontario came third with 3.3 per cent.
Canada job vacancy rate: Province-wide data
The construction sector was the industry sector that faced the highest job vacancy rate in the first quarter of 2019 at 4.9 per cent. The personal services sector reported the second-highest job vacancy rate at 4.7 per cent. The agricultural business sector came third with a job vacancy rate of 3.8 per cent, followed by the hospitality sector at 3.7 per cent.
The number of job vacancies can also be interpreted as a high rate of job creation in Canada that continues to defy expectations. A record 106500 news jobs were created in April followed by another 27700 in May. Unemployment in Canada was also at its lowest point in more than 40 years. This situation has also benefited the new immigrants in the age group of 25-54, as the employment rate among them rose to 71 per cent in 2018.
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