In Canada, there are still more than a million open positions.
The monthly payroll data for Canada are now available to the public and include information on employment, salaries, hours, and job opportunities for the month of May 2023. According to the study’s results, less money or benefits are being provided by companies to workers in Canada for the first time since May 2022.
Using data from the Survey of Employment, Payrolls, and Hours, the poll discovered that as of last May, 26,000 roles were no longer employed. The biggest decreases in employment occurred in the provinces of Manitoba and Ontario, which reported 2,500 and 30,000 job openings, respectively. British Columbia was the only province where payroll employment increased.
Payroll employee reductions are common across most businesses.
The service sector, which includes employment in industries like education, healthcare, and social assistance, had some of the biggest declines in recent economic statistics, it was revealed. The sources state that this resulted in the loss of almost 17,000 payroll jobs.
Additionally, the industry of construction as a whole had a large decline in employment. The number of employed persons fell by over 17,500 in May, the lowest number since July 2022. The province of Ontario lost over two thirds of the lost construction employment. Strikes that occurred across the province and caused severe delays on a number of projects are to blame for the bulk of this loss.
The number of retail jobs is still larger than it was in 2022. Ontario lost the most retail employment nationwide, leading the country. For the second month in a row, fewer people are on the payroll in the retail sector. However, the retail sector’s overall employment rate has increased by 6% since May 2022. The number of retail employment increased in Labrador, British Columbia, Newfoundland, New Brunswick, and Quebec, but not in Ontario.
The only industry in each province to grow was professional, scientific, and technical services. Over 10,000 new employment were created by this sector countrywide, the bulk of which were in high-tech industries like computer systems design and associated services.
Weekly incomes have increased 2.5% on average.
The retail trade industry had the largest gain in weekly pay for May, with a 9.3% increase over the same period in 2022, despite the general drop in employment. Likewise, there has been an 8.1% rise in the pay for technical, scientific, and professional services. On the other hand, the weekly average pay in the arts, leisure, and recreation sector fell by 9.7%.
In contrast to the data from April, the average weekly salary for employees increased by 2.5%. The most frequent causes of this are compensation increases or changes made to the working environment. The study’s findings show that additional hours weren’t put in to get the higher average, which was determined to be 1.5% higher than it was before to COVID-19.
These numbers also show the general yearly growth trend. The biggest rise, 7.4%, was seen in New Brunswick between May 2023 and May 2022. With a 5.9% yearly increase, Newfoundland and Labrador landed in second place. In addition, each year, average salaries rose in seven more Canadian provinces.
There are more job openings in the healthcare industry.
Following a record-low 5.1% in May, the unemployment rate in Canada further declined to 4.9% in June. According to the study, there are now 143,000 job openings in the health care and social services sectors, which is a 6.1% increase from a year ago. In comparison to the 5.4% vacancy rate in April and the 20% vacancy rate in May 2022, this number is a huge rise.
Both in Manitoba and Nova Scotia, there were 161,000 available employment in the hotel and food services industry as of May. Both of these two provinces have unemployment rates that are more than 10%.
Jobs available outweigh those unemployed.
In Canada, there are over one million openings. It has increased by around 300,000 since May 2021, but this is still the same as April statistics. A high job vacancy rate and a low unemployment rate, according to the May 2023 Labor Force Survey, indicate a developing labour shortage in a variety of sectors and an increasing demand for immigration to Canada as the population of the nation ages. In 2023, Canada plans to accept more than 430,000 permanent residents, a first. This objective will increase to more than 450,000 by 2024.