Toronto |Jan24,2012 |
Canadian businesses had, on average,Â 248,000Â job vacancies in the three month period ending in September. For all sectors combined, the ratio of unemployment to job vacancies wasÂ 3.3. In other words, there wereÂ 3.3Â unemployed people in Canada for every job vacancy as per survey done by Statistics Canada.
â€œThe national unemployment rate, meanwhile, hovers above 7 per centâ€ says Navtaj Chandhoke, founder of Professional Real estate Investors Group (PREIG) Canada. In addition, he says, â€œThe 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 theÂ 10Â largest industrial sectors, educational services had the highest ratio of unemployment to vacancies in September, withÂ 10.0Â unemployed people per job vacancy. Construction was next, with a ratio ofÂ 5.1.
Wholesale, trade and health care and social assistance had the lowest ratios, bothÂ 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 wasÂ 1.7%.
The highest vacancy rates were in Saskatchewan and Alberta (bothÂ 2.6%). Prince Edward Island (1.2%) had the lowest vacancy rate.
Among theÂ 10Â largest industrial sectors, the highest rate of job vacancy was in administrative and support services (2.6%, withÂ 20,000Â vacancies), followed closely by professional, scientific and technical services (2.5%, withÂ 20,000Â vacancies). The lowest vacancy rate was in educational services (1.1%, withÂ 10,000Â 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 agencyâ€™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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