There are more than 10,000 job vacancies in Canada. The number of vacancies has increased by more than 3 lakh since May 2021. The May 2022 Labor Force Survey indicates growing labor shortages in various industries and increased demand for immigration to Canada as the country’s workforce ages and retires.
This in turn leads to a high rate of vacancies. Canada is preparing to welcome the largest number of permanent residents in its history in 2022 – the goal is 4.3 lakhs by 2024, and the target would have risen to more than 4.5 lakhs, according to a report.
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In such a scenario, where unemployment is low and vacancies are plentiful, immigrants have an opportunity to fill vacancies.
Therefore, if you wish to use Express Entry to apply for permanent residency in Canada, this could be an excellent opportunity for you. According to another survey, certain states now have more jobs than ever before. In Alberta and Ontario, there were 1.1 jobless for every job vacancy in April, up from 1.2 in March and 2.4 a year earlier. For every vacancy in Newfoundland and Labrador, there were about four unemployed.
Professional, scientific and technical services, transportation and warehousing, finance and insurance, leisure and recreation, and real estate saw record vacancies. Vacancies in the construction industry also reached a record 89,900 in April, almost 45 percent more than in the same month last year and 5.4 percent more than in March. In May there were 1,61,000 job vacancies in Nova Scotia and Manitoba in the lodging and hospitality sector with a rate of over 10 percent. Accommodation and catering businesses had the most vacancies for the 13th month in a row.
Labour Market Shrunk
With fewer people wanting to enter the labor market and more people over 55 exiting, Canada’s labor market has shrunk dramatically this year. According to CIC News, out of 90,000 baby boomers are expected to retire in Canada this decade.
A recent RBC poll found that a third of Canadians are retiring early and that three in 10 people close to retirement are postponing their retirement due to the pandemic. Meanwhile, the fertility rate fell to a record low of 1.4 children per woman in 2020
According to a recent RBC poll, one-third of Canadians are retiring early, and three in 10 people nearing retirement are postponing their retirement because of the pandemic.
Take a look at job vacancies and related figures in Canada:
- In April there wwere1.1 jobless for every job in Alberta and Ontario, up from 1.2 in March and 2.4 a year earlier.
- For every vacancy in Newfoundland and Labrador, there were about four unemployed. Professional, scientific and technical services, transportation and warehousing, finance and insurance, leisure and recreation, and real estate saw record vacancy rates.
- Vacancies in the construction industry also reached a record high of 89,900 in April, almost 45 percent more than in the same month last year and 5.4 percent more than March.
- In May there were 1,61,000 job vacancies in Nova Scotia and Manitoba in the lodging and hospitality sector, with a rate of over 10 percent.
- Accommodation and catering establishments had the most vacancies for the 13th month in a row. With fewer people ready to enter the labor market and more people retiring over age 55, Canada’s labor market has shrunk dramatically this year.
- 90 lakh baby boomers in Canada are expected to retire this decade, according to CIC News.
- According to a recent RBC poll, one-third of Canadians are retiring early, and three in 10 people nearing retirement are postponing their retirement because of the pandemic.
