Canada has been suffering from job vacancies for a while now, and the 433,000 jobs that went unfilled across the entire country in the third quarter of 2019 prove it further. When the third quarter of 2019 was analyzed, it was found that Canada’s private sector recorded historically high job vacancies. The Canadian Federation of Independent Business says that the private sector was experiencing such a crisis for the first time in a long while.
The federation’s most recent Help Wanted Report states that around 433,000 private-sector jobs remained vacant during the third quarter of 2019. The figure is around 1,500 more as compared to the second quarter. The same period last year had 15,000 fewer vacancies. This is a cause for concern and had to be resolved as soon as possible.
CFIB’s chief economist, Ted Mallett, mentioned in a statement that this was the fifth consecutive quarter that saw a record high vacancy rate. Small firms, that have less than five employees, are finding it really difficult to hire workers. The recruitment process is no longer smooth, and the vacancy rate has risen up to 5.4 percent.
The province of Quebec was reported to have the tightest labor market in the third quarter with a four percent vacancy rate. British Columbia maintained its second-place position with an above-average vacancy rate of 3.8 percent. Ontario recorded a vacancy rate of 3.2 percent, which is the national average. The vacancy rates prevailing in Newfoundland and Labrador, and the Prairies rose slightly, but the number still has not surpassed the national average. Other provinces in Canada did not witness any marked changes in the period between the second and third quarters.
Industries that have more small-sized companies recorded higher vacancy rates as compared to the big-business sectors. Vacancy rates rose in agriculture and hospitality but fell in the manufacturing and retail sectors.