Canada Education Consultants being the best study in Canada Consultants presents how the Canadian job vacancies are reaching a new high.
The last quarter of 2017 has seen a record high in Job vacancies in Canada’s private sector. This has been stated by a new report published by the Canadian Federation of Independent Business.
A similar phase had struck Canadian employers in early 2008 when the job vacancy rate in the private business sector had touched 2.8 per cent for any quarter.
The CFIB is a non-profit organization with a membership of more than 109,000 independent businesses across Canada. Their report states, “In raw terms, this represents a record-high 361,700 jobs left unfilled for at least four months because employers have not found suitable candidates.” The study has gone on to state that there is a mounting shortage of skilled labour in Canada’s growing economy. The purview of the study has been responses from 2033 business owners and operators across Canada. As per the findings of the study, British Colombia had 60,100 vacant jobs which is the highest at 3.4 percent amongst all of the Canadian provinces.
Economists are pointing out that Labour shortages pose a major pitfall across the country especially to smaller sized firms. This in turn affects and inhibits the firms’ capacity for expansion and innovation.
In Quebec too, the job vacancy rate also rose slightly at just about 3.1 percent. The rate was 3 percent in Ontario and 2.4 percent in Saskatchewan. In no’s this translated to 1,49,600 empty job posts in Ontario and 85,000 in Quebec. In Alberta, the job vacancy rate was 2.2 percent with 33,900 unfulfilled jobs. Job vacancy rate decline was felt only in Manitoba and Newfoundland and Labrador. There was no change in the job vacancy rate in New Brunswick, Nova Scotia and Prince Edward Island.
Wages have been consistently going up due to the increase in the Job Vacancy rate. Construction, transportation, enterprise services and personal services are the sectors facing the greatest labour shortage.
Unemployment rate in Canada has been the lowest at 5.9 percent ever since 2008 reaching a ten year low in November.
In November, British Columbia posted the lowest unemployment rate in Canada at 4.8 percent. The same month, Quebec also posted its lowest unemployment rate since 1975, which is being cited as the main reason for calls for changes in the immigration quotas.