The Unemployment: Job Vacancies Ratio
Canada records the number of unemployed people in the country for every job vacancy. This year there is a 1.1 ratio of unemployed people for every job vacancy, which is an improvement from the 1.3 previously recorded. In 2021 Canada recorded an all-time high 2.3 unemployment ratio, which has since improved drastically.
Quebec and British Columbia take the lead with a 0.8 unemployment ratio. New Foundland and Labrador recorded the highest unemployment rates at 3.3 for every vacant job.
Job Vacancies Per Sector
1. Healthcare and Social Assistance
Some hospitals had to close down some of their services, including their emergency rooms, in the face of labor shortages in 2021. This discrepancy was quickly fixed before year-end. In 2022, the healthcare and social assistance sector did not experience any major increase in job vacancies, with only a thousand extra jobs available.
2. Accommodation and Food Services
The accommodation and food services sector took a bit of time to return to pre-pandemic standards showing the most increase in job vacancies at 12.7%. The sector has about 147,600 vacant jobs in the second quarter of 2022. This increase is the highest job increase rate of any sector in Canada this year. The Kootenay region in British Columbia benefits the most from this job vacancies rise.
3. Professional, Scientific, and Technical Services
This sector produced 74,600 jobs this year, rated at an 8% increase from the previous quarter. This improvement is a 79% rise from the first quarter of 2020. Most of these job vacancies are in Toronto, Montreal, Vancouver, and the surrounding areas.