Work in Canada
Job Vacancies in Canada Soar to 656,700 in February
In February 2024, job vacancies in Canada experienced a significant surge, reaching a total of 656,700, marking a notable increase of 21,800 (+3.4%). This surge reflects the growing demand for skilled workers across various sectors of the Canadian economy.
Rise in Payroll Employment
The rise in job vacancies was accompanied by an increase in payroll employment, particularly in sectors such as public administration and finance and insurance. Payroll employment in public administration saw a substantial increase of 6,600, primarily driven by growth in local, municipal, and regional public administration. Similarly, the finance and insurance sector experienced a boost in employment by 6,400.
Sectoral Breakdown of Job Vacancies
The increase in job vacancies was most prominent in sectors like transportation and warehousing, where vacancies surged, reflecting a growing need for logistics and supply chain professionals. Additionally, the finance and insurance sector witnessed a significant uptick in job vacancies, indicating a demand for professionals in financial services.
Here’s a breakdown of job vacancies by sector and provinces:
| Sector | Job Vacancies | Job Vacancy Rate |
| Transportation and Warehousing | 656,700 | 4.7% |
| Finance and Insurance | 4,100 | 3.2% |
| Health Care and Social Assistance | 128,200 | 5.2% |
The rise in job vacancies was not uniform across all provinces and territories. Ontario and Alberta stood out with significant increases in job vacancies. Ontario witnessed a surge of 18,200 vacancies, while Alberta saw an increase of 9,900 vacancies, indicating robust economic activity in these regions.
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Here’s a glimpse of job vacancy rates in select provinces and territories:
| Province or Territory | Job Vacancy Rate |
| Ontario | 8.4% |
| Alberta | 13.7% |
| British Columbia | 4.3% |
| Saskatchewan | 4.0% |
| Prince Edward Island | 3.0% |
| Newfoundland and Labrador | 2.9% |
The State of Canada’s Job Market
In February, job vacancies in Canada surged, indicating a robust demand for skilled workers across various sectors. British Columbia emerged as the province with the tightest job market, boasting the highest job vacancy rate at 4.3%. Meanwhile, Saskatchewan followed closely behind with a job vacancy rate of four percent.
Despite the overall increase in job vacancies, employment declined in seven out of ten sectors of the Canadian economy. Industries such as accommodation and food services, manufacturing, and retail trade witnessed notable decreases in employment.
However, there were some bright spots, with gains observed in sectors like public administration, finance and insurance, healthcare and social assistance, and real estate. Additionally, despite job losses in the private sector, governments in Canada continued to hire, contributing to a rise in payroll employment, particularly in public administration. Moreover, workers in Canada saw a slight increase in average weekly earnings, reflecting positive growth in compensation levels.
Overall, Canada’s job market presents a mix of challenges and opportunities for job seekers and employers alike. With various Canada immigration pathways available, including the Express Entry system and Provincial Nominee Programs, skilled workers from around the world have avenues to contribute to Canada’s economy. Additionally, Canadian employers can leverage programs like the Temporary Foreign Worker Program and the Global Talent Stream to meet their workforce needs efficiently.
