Canada's Job Market Hits Lowest Vacancy Rate Since 2017: Sector & Provincial Insights
Hrd America•3 weeks ago•
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Canada's Job Market Hits Lowest Vacancy Rate Since 2017: Sector & Provincial Insights

INDUSTRY INSIGHTS
jobvacancies
labourmarket
statcan
employment
canada
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Summary:

  • Canada's job vacancies fell to 501,300 in April, marking a 3.2% monthly decline

  • The national job vacancy rate dropped to 2.8%, the lowest since October 2017

  • Year-over-year, job vacancies decreased by 15.4%, with unemployment rising to 6.9%

  • Health care and social assistance had the highest vacancy rate at 4.1%, but saw a 23.9% yearly decline

  • British Columbia and Alberta experienced the most significant provincial drops in job openings

Canada’s labour market showed signs of softening in April, with job vacancies decreasing by 16,800—a 3.2% drop—to 501,300. This marks the first significant monthly decline in nearly a year, as reported by Statistics Canada (StatCan).

The national job vacancy rate fell to 2.8%, down from 2.9% in March, reaching the lowest level since October 2017. Year-over-year, job vacancies plummeted by 91,400 positions, or 15.4%.

Canadian job vacancies slide to lowest rate since 2017: StatCan

With fewer unfilled jobs, the competition among job seekers intensified. "There were 3.1 unemployed persons for every job vacancy in April, up from 2.9 in March," StatCan noted. This shift reflects a decrease in job vacancies alongside an increase in unemployment, pushing the unemployment rate from 6.2% to 6.9% year-over-year.

Job vacancies in Canada fall to pre-pandemic levels

Differences Across Sectors and Provinces

  • Finance and insurance saw an 18.0% drop in job openings, while wholesale trade declined by 13.7%.
  • Health care and social assistance (4.1%) and accommodation and food services (4.0) had the highest vacancy rates but also the largest year-over-year declines.
  • Construction vacancies fell by 13.8% compared to April 2024.

Provincially, British Columbia led the losses with a 8.5% decrease, followed by Alberta (-9.4%), New Brunswick (-16.8%), and Newfoundland and Labrador (-26.3%).

Despite the overall downturn, Manitoba and Saskatchewan reported the highest job vacancy rates at 3.3%, while Newfoundland and Labrador (2.1%) and New Brunswick (2.3%) had the lowest.

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