WHATSAPPThe job vacancy rate in the private sector of Canada witnessed a tremendous rise in the third quarter of 2019, according to a report brought out by the Canadian Federation of Independent Business (CFIB).
The latest Help Wanted Report released by the Federation says that the number of unfilled job vacancies in the private sector of Canada during the third quarter of 2019 was around 433000. This is 1500 more compared to the second quarter of 2019 and 15000 more compared to the third quarter of 2018.
Canada has been witnessing a record high job vacancy rate for the past five consecutive quarters. It is especially the small firms with the number of employees less than five that find it difficult to recruit employees.
Among the Canadian provinces, the highest job vacancy rate was recorded in Quebec at four per cent. Second came British Columbia with 3.8 per cent job vacancy rate. Ontario emerged third with a national average of 3.2 per cent. Though the vacancy rates in the Prairie provinces and Newfoundland and Labrador remained below the national average, they were slightly up compared to previous quarters.
Among the industries, rising job vacancy rates were reported in sectors including agriculture, information and hospitality. At the same time, job vacancy rates were found to be declining in the manufacturing, wholesale and retail sectors. The personal services industry that includes businesses such as hairdressers, dry cleaners and funeral services also witnessed a high vacancy rate of 4.9 per cent during the period between July and October 2019. In the construction industry, the job vacancy rate during this period was 4.7 percent. The other major sectors that witnessed an increase in job vacancy rates during this period were hospitality (4.0 per cent), agriculture (3.7 per cent) and information (2.4 per cent). The lowest job vacancy rate was recorded with the natural resources sector, at 1.8 per cent.
According to the CFIB report, the most significant factors that lead to an increase in the number of job vacancy rates are future outlooks, growth intentions, business size and firm-specific job characteristics.
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