Statistics Canada has revealed that Canada job vacancies remained on a downwards trend in June, dropping by 8,900 to 753,400 over the course of the month.
This is a significant fall from the 762,300 job vacancies in May.
The net decrease thus becomes 108,500 (-12.6%) since January, and 249,900 (-24.9%) since the “record high” of slightly over 1 million (1,003,200) vacancies in May of last year.
The following sectors underwent significant decreases in job vacancy numbers:
1. The largest monthly declines in vacancies in June 2023 were in finance and insurance at -8,800 (a -30.2% fall), which reached a job vacancy figure of 20,500.
2. Accommodation and food services followed next (this being the sector’s second consecutive month of job vacancy decrease), with a decline of 7,600 in job vacancies.
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The -7.5% fall caused the number to reach 92,500 in June, which follows a decrease of 11,700 (-10.5%) in May.
If going off a year-on-year basis, StatsCan reports this industry to be observing a decrease in the number of unfilled positions by 58,400 (-38.7%) in June.
While the job vacancy rate in accommodation and food services remained the highest across all sectors in June at 6.6%, it was down from 10.8% during June of last year.
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3. Construction had the third largest monthly decline in June 2021, at -6,900. This caused its job vacancy numbers to reach 62,300 in June of this year, partially offsetting the increase of 9,200 in May.
The year-on-year decrease observed in June 2023 in the job vacancy rate in construction reflected lower job vacancies and gains in payroll employment.
The aforementioned decreases in finance and insurance, accommodation and food services, and construction were “mitigated” by 12,400 more vacancies in health care and social assistance (an increase of 9.4%).
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This was a rebound after an 8.4% fall in the preceding month.
The sectors of “retail trade” and “mining, quarrying, and oil and gas extraction” also witnessed a rise in job vacancies, with a 5,700 hike in the former (to reach 84,800 in June) and 2,100 in the latter (to reach 10,500 in June).
When considering provincial statistics, Quebec observed a fall in the number of unfilled positions by 14,700 (-7.6%) to 178,500 in June, which is its lowest level since March 2021.
Simultaneously, unemployment in Quebec rose by 19,700 (+10.6%) in June 2023. The unemployment-to-job vacancy ratio was 1.2 in June, up from 1.0 over the last three months.
Three other provinces showed the opposite pattern, namely Saskatchewan (+4,900), New Brunswick (+1,800) and Prince Edward Island (+1,000). Their job vacancy rises in June 2023 contrasted Quebec’s decline.
Meanwhile, the six remaining provinces showed little change.
The data detailed above is collected by Statistics Canada on a quarterly basis through its Job Vacancy and Wage Survey (JVWS).
The survey is conducted to provide valuable information on labor market demand by gathering information from Canada employers on job vacancies for all occupations from all industries.
It is an electronic questionnaire with telephone follow-up for non-responses. Survey participation is mandatory under the Statistics Act.
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