According to Statistics Canada, Canada’s job vacancies remained at 633,400 in October, which is similar to the number in September. This comes after a consecutive decrease in job vacancies from May to September.
The report from the national statistical agency also highlighted that October’s unfilled positions were at their lowest level since February 2021.
The total labour demand, which is the sum of filled and unfilled positions, declined slightly in October from the peak of 17,895,000 reached in March 2023. The decrease in vacancies outweighed the corresponding increase in payroll employment over the period.
The job vacancy rate, which indicates the number of vacant positions as a proportion of total labour demand, held steady at 3.6 percent. However, it was lower compared to the 4.5 percent observed in both March and April.
In October, there were 1.9 unemployed individuals for every job vacancy, a figure that remained unchanged from September. However, it increased from 1.3 in March and April. Statistics Canada noted that in 2019, prior to the COVID-19 pandemic, the unemployment-to-job vacancy ratio fluctuated between 2.0 and 2.3.
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