Toronto |Jan24,2012 |
Canadian businesses had, on average, 248,000 job vacancies in the three month period ending in September. For all sectors combined, the ratio of unemployment to job vacancies was 3.3. In other words, there were 3.3 unemployed people in Canada for every job vacancy as per survey done by Statistics Canada.
“The national unemployment rate, meanwhile, hovers above 7 per cent†says Navtaj Chandhoke, founder of Professional Real estate Investors Group (PREIG) Canada. In addition, he says, “The employment rate and opportunities also reflect the demand, supply and the value of Canadian Real Estate. It is one of the key components for investing in Canadian real estate.â€
Among the 10 largest industrial sectors, educational services had the highest ratio of unemployment to vacancies in September, with 10.0 unemployed people per job vacancy. Construction was next, with a ratio of 5.1.
Wholesale, trade and health care and social assistance had the lowest ratios, both 1.4.
The national unemployment rate, meanwhile, hovers above 7 per cent.
The new survey helps fill a key gap in understanding changes in companies’ appetite to hire. Canada’s job vacancy rate, defined as the number of vacant positions divided by total labor demand, was 1.7 per cent in September.
Job vacancy rates highest in Prairie Provinces
The job vacancy rate is defined as the number of vacant positions divided by total labor demand, that is, vacant positions plus payroll employment. In the three months ending in September, the national job vacancy rate was 1.7%.
The highest vacancy rates were in Saskatchewan and Alberta (both 2.6%). Prince Edward Island (1.2%) had the lowest vacancy rate.
Among the 10 largest industrial sectors, the highest rate of job vacancy was in administrative and support services (2.6%, with 20,000 vacancies), followed closely by professional, scientific and technical services (2.5%, with 20,000 vacancies). The lowest vacancy rate was in educational services (1.1%, with 10,000 vacancies).
The mining, quarrying and oil and gas extraction sector has the highest vacancy rate in the country, reflecting hot demand in the natural resources sector, where companies often compete amid a scarcity of skilled workers. These industries had almost 9,000 vacancies.
It was compiled by adding two questions to the agency’s existing survey of employment, payroll and hours.
Year-over-year comparisons of changes in job vacancies will be available from June onwards. The index will be released on a quarterly basis.
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