[Published
01 Aug, 2022 | 06:28 AM]
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A study on may 2022 edition of Statistics Canada's monthly payroll employment, wages, hours, and job vacancy report has been made public. The research indicates that for the first time since May 2021, fewer employees in Canada are receiving income or perks from their company.
According to the report, which was created using information from the Survey of Employment, Payrolls, and Hours, 26,000 positions were no longer being paid for as of last May. Ontario and Manitoba, which reported 30,000 and 2,500 job openings, respectively, experienced the largest drops. The only jurisdiction to record an increase in payroll workers was British Columbia.
In Canada, there are more than a million open positions. This is consistent with April data; however the number of open posts has increased since May 2021 by over 300,000. The Labour Force Survey's estimate of the low unemployment rate and high job vacancy rate for May 2022 indicate a developing labour shortage in a number of industries and an increased demand for immigration to Canada as the country's workforce ages and enters retirement. With a target of exceeding 430,000, Canada is currently preparing to welcome its biggest ever number of permanent residents in 2022. By 2024, the goal will have risen to over 450,000.
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Boost of job vacancies:
1. Healthcare sector
May saw Canada's jobless rate drop to 5.1 percent, a record low (it dropped further to 4.9 percent in June). According to the report, there are now 143,000 open positions—or 6.1 percent—in the health care and social services sectors. Compared to April's vacancy rate of 5.4 percent and May 2021's vacancy rate of 20 percent, this is a huge increase. In May, there were 161,000 open positions in the lodging and food services sector in both Nova Scotia and Manitoba, which had job vacancy rates of over 10%. Accommodation and food services have had the highest number of vacancies for the thirteenth consecutive month.
2. Retail Trade
Additionally, Ontario saw the biggest drop in retail trade jobs across the nation. The number of payroll employees in the retail trade professions has fallen for the second consecutive month. The overall rate of employment in the retail trade is still 6% greater now than it was in May 2021, though. Quebec, New Brunswick, British Columbia, and Newfoundland and Labrador all reported growth in employment in the retail trade, in contrast to Ontario.
The professional, scientific, and technological services industry was the only one to experience growth in each province, adding over 10,000 jobs, mostly in high-tech fields like computer systems design and related services.
The services-producing sector, which reported a loss of almost 17,000 jobs on payroll in industries like educational services, healthcare, and social support, experienced some of the biggest declines. Additionally, there was a large drop in employment in the construction industry as a whole. The number of jobs decreased by almost 17,500 in May, the first drop since July 2021. Nearly two thirds of the decline in employment in the construction industry was attributable to the loss of the majority of positions there. This loss is mostly attributable to strikes that occurred across the province and that resulted in protracted delays on a number of projects.
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