The number of job vacancies in Canada surpassed one million in April

According to the federal agency, Canadian employers were actively seeking to fill 1,001,100 job vacancies, up 23,300 from March and 308,000 from April 2021.

The vacancy rate, which measures the proportion of vacancies in all positions, was 5.8% in April compared to 4.4% in the same month last year.

This change comes as job numbers are rising across the country.

In April, paid employment had returned to or exceeded pre-COVID-19 levels observed in February 2020 for the first time in all provinces. »

A quote from Excerpt from Statistics Canada report

The Bank of Canada has cited the high number of job vacancies, saying it believes it shows a clear need to rein in the economy to fight inflation.

The job market is currently one of the clearest signs that we have excess demandsenior deputy central bank governor Carolyn Rogers said at a conference earlier this week.

We have a million vacancies. If you talk to companies these days, they will tell you that they are really struggling to fill these positions.

The tight labor market is also helping to push up wages, which can fuel inflation.

wage increases and inflation

Data released by Statistics Canada on Friday showed average weekly earnings rose 4% in April from a year earlier. However, workers did not benefit much as inflation was 6.8% over the same period.

However, higher wage increases were recorded in some sectors. Retail sales increased by 11.7%, professional, scientific and technical services by 9.7% and manufacturing by 8.2%. The arts, entertainment and leisure sector was the only sector where wages fell (-4.5%).

In a report on Friday, Bank of Montreal chief executive Douglas Porter said one of the reasons behind the rise in core inflation is that cost pressures are spreading through a tight labor market.

He noted that Friday’s wage numbers show annual wage growth at a fixed-weight measure was 6.2% in April, well above other wage indicators this year and over about a percentage point above the previous peak recorded in April Data from the last 30 years was visible.

After a long period of surprising calm in wages in Canada, the payroll survey has just suffered a slump in inflation. »

A quote from Douglas Porter, CEO of the Bank of Montreal

Job vacancies hit record highs in several sectors, including construction, where job vacancies reached 89,900 in April, up 12,000 from March and 27,200 from March to April 2021.

Job openings also hit record highs in professional, scientific and technical services, transportation and warehousing, finance and insurance, arts, entertainment and recreation, real estate services, and rental and leasing services.

In the health and social welfare sector, job vacancies fell to 125,200 in April from a peak of 147,500 in March, but these vacancies were still up 21.3% year-on-year.

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