It was tougher for the unemployed to find jobs in the second quarter of this year as the number of job vacancies fell by 59,000 positions, or roughly twice the rate during that three-month period as in the first quarter of the year.
In the first three months of this year, Canada saw a loss of 30,200 job vacancies.
That second-quarter drop in job vacancies was a decline of 9.2 per cent in available jobs and marked the eighth consecutive quarterly decline from the record high of 983,600 job vacancies set two years ago.
Seven of 10 Occupational Sectors Saw Drops In Job Vacancies
“In the second quarter, job vacancies decreased for both permanent positions, down 43,400 or 8.3 per cent, and temporary positions, down 15,600 or 12.9 per cent,” reports Statistics Canada.
“Vacancies also fell for full-time positions, down 45,400 or 9.5 per cent, and part-time positions, down 13,600 or 8.3 per cent.”
It’s not that the jobs disappeared in the second quarter. It’s that they were filled by unemployed workers.
“The number of people with paying jobs rose during the second quarter by 62,000 or 0.4 per cent in the second quarter,” notes Statistics Canada.
“Total labour demand, the sum of filled and vacant positions, was little changed compared to the first quarter of 2024, and was also little changed from the second quarter of 2023.”
Overall Decline in Job Vacancies:
- Job vacancies decreased by 59,000 (-9.2%) to 582,600, marking the eighth consecutive quarterly decline.
- This decline is approximately double that of the previous quarter (-30,200; -4.5%).
Breakdown by Position Type:
- Permanent positions fell by 43,400 (-8.3%).
- Temporary positions decreased by 15,600 (-12.9%).
- Full-time positions dropped by 45,400 (-9.5%).
- Part-time positions declined by 13,600 (-8.3%).
Payroll Employment:
- Increased by 62,000 (+0.4%) in Q2 2024.
- Total labour demand remained stable compared to Q1 2024.
Job Vacancy Rate:
- Decreased by 0.3 percentage points to 3.3%, the lowest since Q1 2020.
Unemployment-to-Job Vacancy Ratio:
- Increased to 2.4 unemployed persons per job vacancy, the highest since Q2 2021.
Sector-Specific Declines:
- Job vacancies fell in 7 out of 10 occupational groups:
- Trades, transport, and equipment operators: -19,200 (-15.3%).
- Sales and service occupations: -18,400 (-9.9%).
- Business, finance, and administration: -4,600 (-5.8%).
- Natural and applied sciences: -4,500 (-9.6%).
Year-over-Year Changes:
- Significant declines in vacancies for sales and service occupations (-88,000; -32.2%).
- Business, finance, and administration positions reached the lowest since Q1 2021.
Health Occupations:
- Declined by 3,900 (-4.3%) to 88,600.
- Proportion of long-term vacancies decreased but remained higher than the overall average.
Wage Trends:
- Average offered hourly wage increased by 6.8% to $26.80.
- Higher growth rates noted for part-time positions (+7.7%) compared to full-time (+6.6%).
Educational Level Impact:
- Significant drop in vacancies for positions requiring a high school diploma or less (-140,900; -29.8%).
Regional Declines:
- Job vacancies decreased in 25 of 69 economic regions, with the largest drops in Quebec, Ontario, and British Columbia.
- Year-over-year job vacancy rates fell in 60 of 69 regions.
The number of vacant jobs shrank in seven of 10 occupational sectors across Canada during the second quarter of this year.
The decreases in job vacancies were for trades, transport and equipment operators and related occupations, followed by sales and service occupations, business, finance and administration occupations, and natural and applied sciences and related occupations.
“Job vacancies were little changed in the second quarter in natural resources, agriculture and related production occupations at 13,100 vacancies, occupations in art, culture, recreation and sport at 10,800 vacancies, and legislative and senior management occupations at 1,100 vacancies,” noted the statistical and demographic services agency.
Quebec Saw The Biggest Percentage Drop In Job Vacancies In Q2
Across the country, Quebec saw a 16.3 per cent drop in job vacancies, Prince Edward Island a loss of 13.8 per cent, Ontario a decline of 9.7 per cent, Alberta a decrease of 6.5 per cent, Saskatchewan a 6.3 per cent softening, British Columbia a reduction of 4.6 per cent and the Yukon shed 16.1 per cent of its job vacancies.
“Year over year, the job vacancy rates declined in 60 of 69 economic regions in the second quarter,” notes Statistics Canada. “Only the region of southwest Manitoba saw an increase in the job vacancy rate in the second quarter, up 0.5 percentage points to 4.3 per cent, while the remaining eight economic regions were little changed.
“The largest year-over-year declines in the job vacancy rate in the second quarter were observed in Quebec’s Capitale-Nationale … Côte-Nord and Nord-du-Québec …. Laval … and Laurentides. These decreases contributed to the overall decline in Quebec … which was the largest year-over-year decline among all provinces.”
Most of the loss in job vacancies were for positions that require only a high school diploma or less by way of education.
“Positions requiring a high school diploma or less decreased by 140,900, down 29.8 per cent, accounting for 71.5 per cent of the overall year-over-year decline in job vacancies,” notes Statistics Canada.
Average Hourly Wage Offered For Permanent Jobs Rose 7.2% Over The Past Year
According to the latest Labour Force Survey, the average hourly wages of all employees grew 5.1 per cent year over year in the second quarter of 2024, unchanged from the growth rate in the previous quarter.
Year over year, the average offered hourly wage for full-time positions increased by 6.6 per cent to $28.20, while the wages offered for part-time positions grew at a faster rate, rising 7.7 per cent to $22.50. The average offered hourly wage also rose for permanent positions by 7.2 per cent to $27.60 and temporary positions by 5.1 per cent to $23.75.
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.
