The number of Canada jobs fell to 551,000 jobs vacancies in June, the latest data from Statistics Canada reveals, after hitting a high of almost one million jobs up for grabs during the COVID-19 pandemic.
In April, 2022, there were 999,600 job vacancies throughout the country. Two years and two months later, there were 44.9 per cent less jobs available in Canada.
“On a year-over-year basis, job vacancies were down by 190,500, or 25.6 per cent, in June,” notes the statistical and demographic services agency.
The job vacancy rate, which corresponds to the number of vacant positions as a proportion of total labour demand, held steady in June at 3.1 per cent and was 1.1 percentage points lower than in June 2023 when it was 4.2 per cent.
“There were 2.6 unemployed persons for every job vacancy in June 2024, up from 2.5 in the previous month, largely due to an increase in the number of unemployed persons,” notes Statistics Canada.
“This was the fifth consecutive monthly increase in the unemployment-to-job vacancy ratio. This ratio has seen an upward trend since its lowest level of one in July 2022, indicating cooling in the labour market over the period.”
The number of Canadians holding down paid jobs shrank by 47,300 in June.
“The decline in June followed five consecutive monthly increases from January to May, with a cumulative gain of 147,600 … over this period,” notes Statistics Canada. “On a year-over-year basis, payroll employment was up 110,400 or 0.6 per cent, in June.”
Eleven of 20 industry sectors shed jobs in June, led by the retail trade which shed 15,100 jobs, followed by manufacturing, which contracted by 10,600 jobs, construction which lost 7,700 jobs, and administrative and support, waste management and remediation services which shrank by 6,600 jobs.
“Mining, quarrying and oil and gas extraction, with an increase of 2,500 jobs, was the lone sector to record a monthly increase in June,” reports Statistics Canada.
Job Vacancies Increased in Manitoba, New Brunswick and Prince Edward Island
Across the country, Manitoba, New Brunswick and Prince Edward Island all saw an increase in job vacancies. Manitoba added 4,300 job vacancies, New Brunswick, 1,800 and Prince Edward Island another 1,100.
”Meanwhile, job vacancies in Saskatchewan decreased by 2,600 to 17,700. There was little change in the remaining six provinces,” notes Statistics Canada.
“Manitoba had the highest job vacancy rate at 3.9 per cent in June, followed by British Columbia at 3.6 per cent and Prince Edward Island at 3.5 per cent. Manitoba also had the lowest unemployment rate at 5.1 per cent of any province in June as well as the lowest unemployment-to-job vacancy ratio, at 1.6.”
Under the Express Entry system, immigrants can apply for permanent residency online if they meet the eligibility criteria for one of three federal immigration programs, the Federal Skilled Worker Program (FSW), Federal Skilled Trades Program (FST), and Canada Experience Class Program (CEC), or a participating provincial immigration program.
Candidates’ profiles then are ranked against each other according to a points-based system called the Comprehensive Ranking System (CRS). The highest-ranked candidates will be considered for an Invitation to Apply (ITA) for permanent residence. Those receiving an ITA must quickly submit a full application and pay processing fees, within a delay of 90-days.
Through a network of Provincial Nominee Programs (PNP), almost all of Canada’s ten provinces and three territories can also nominate skilled worker candidates for admission to Canada when they have the specific skills required by local economies. Successful candidates who receive a provincial or territorial nomination can then apply for Canadian permanent residence through federal immigration authorities.
Canadian employers can also recruit and hire foreign nationals through the Temporary Foreign Worker Program (TFWP) and the International Mobility Program (IMP).
The Global Talent Stream (GTS), a part of the TFWP, can under normal processing situations lead to the granting of Canadian work permits and processing of visa applications within two weeks.
