Outcomes of the Job Vacancy and Wage Survey report for the second half of 2022 have been made public. The average rate of openings increased from the first quarter of 2022 by 4.7% and from the second quarter of 2021 by 42.3%.
Altogether, there are around one million open positions in Canada, which is an all-time high rate of 5.7%. The number of open positions corresponding to the overall labor demand is used to compute gaps.
The present record-high number of job openings is the outcome of the rise in employment levels outpacing the increase in payroll employment since the first quarter of 2020.
According to the research, the average hourly income paid across all industries has climbed by 5.3% during the second quarter of 2021. At the moment, it is $24.05 per hour. Contrary to this increase, the average hourly wage for all currently employed workers increased by only 4.1%.
The growth in the consumer price index (CPI), a crucial indicator of inflation, is not comparable to that of these increases. When opposed to the same time in 2021, the CPI rose by 7.5%.
The odds of a boost in pay were highest for obs in five industries. The highest rise, 11.3%, was in the professional, academic, and technological sectors, with an average hourly income of $37.05.
Jobs in the wholesale trade pay approximately $26.10 per hour.
While social and health care assistance increased only 3.6% over the previous year to $25.85, retail trade job salaries increased only 5.7%, less than the CPI. In general, most job openings reflect hourly salaries that are equal to or lower than the CPI for the second quarter of 2022.
The number of open positions increased between the first and second parts of 2022 in six provinces.
The highest rise was in Ontario, where job openings increased by 6.6% to 379,700 overall. A 6% increase was also seen in Nova Scotia. There were increases in Manitoba, British Columbia, Alberta, and Quebec ranging from 5.6% to 2.4%
New Brunswick was the only province where job openings fell, with a 6.1% decline to 15,200 positions available.
The other territories and provinces did not experience any significant change.
In Canada, there were on average 1.1 unemployed workers for every open position. This is a decrease from 2.3 persons for every job at this time last year and 1.3 people for every job in the first half of 2022.
For every employment opening, only 0.8 persons are reported in Quebec and BC. In contrast, Newfoundland and Labrador deviate from the norm with 3.3 unemployed individuals for every open position.
The number of open positions in the social and healthcare support sector decreased slightly during the first and second quarters of this year, from 135,300 to 136,100, or nearly 6%. But it has increased by about 29% during the second quarter of 2021. Some facilities had to cut back on services due to a staffing shortfall, including briefly shutting emergency departments.
At 6.7%, Manitoba has the greatest job vacancy rate in the medical industry.
In the second quarter, the number of open positions in the lodging and food services industry increased significantly by 12.7%, reaching 149,600, for a 10.9% overall job vacancy rate.
This is the greatest rate of open positions across all industries, and it is especially severe in British Columbia’s Kootenay region.
Jobs in this industry peaked at 74,600 open positions, up over 8% from the previous quarter and 79% from the first quarter of 2020. About 50% of these positions were in Montreal, Toronto, Vancouver, and the nearby areas.
Because of the high job vacancy rate and relatively low unemployment rate, some firms are having trouble filling open positions and are needing to extend the recruiting process.
Only 44 employees were employed for every 100 openings during the second quarter.
As more than nine million Canadians approach the retirement age of 65 and the birth rate stays low at 1.4 children per woman, the labor shortage in Canada is anticipated to worsen into 2030.