Canadian job vacancies have reached another all-time high
September 21, 2022
By CIC News |
Statistics Canada has released 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.
Beginning in the first quarter of 2020, the growth in labour demand has been exceeding growth in payroll employment, resulting in the current record high number of job vacancies.
Wage increases in some sectors are not matching the consumer price index
The report found that the average hourly wage offered across all sectors has increased by 5.3 % over the second quarter of 2021. It currently stands at $24.05 per hour. This rise is different from the hourly average wages of all employees, those currently employed, which rose only 4.1 % in comparison.
These increases do not equal the rise in the consumer price index (CPI), a key measure of inflation. The CPI increased by 7.5% compared to the same period in 2021.
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 the healthcare and social assistance rose only 3.6% over last year to $25.85. Overall, the majority of job vacancies are reporting hourly wages that are on par with, or below , the CPI for the second quarter of 2022.