Employers across Canada are increasing wages for employees with an aim to attract more workers, as a high number of job positions are remaining vacant. As per a report by Statistics Canada, employers are responding to the tight labour market and hiring difficulties by raising wages they offer for vacancies. Compared to the third quarter of last year, the average hourly wage has increased by 7.5 percent to $24.20 during the same period.
Rise in the number of job vacancies
The job vacancy rate is calculated by dividing the number of vacant positions in Canada by the total number of jobs. In the third quarter of 2022, the job vacancy rate was 5.7 percent. During this period, job vacancies increased by 8.3 per cent compared to last year. The percentage of rise was 72.7 percent compared to 2020.
The employers in Canada are trying to overcome the labour shortage crisis by hiring workers through the Temporary Foreign Worker Program(TFWP) and International Mobility Program(IMP). Under the Global Talent Stream, which is part of the TFWP, Canada work permits are processed within two weeks.
Express Entry program is another major pathway through which foreign workers move to Canada. Under this program, a candidate must meet the eligibility criteria for the Federal Skilled Worker Program (FSW), Federal Skilled Trades Program (FST) or Experience Class Program (CEC). The candidates are assessed and ranked on the basis of Comprehensive Ranking System(CRS) score and those with the highest scores are invited to apply for permanent residence in Canada in the Express Entry draws that are conducted regularly.
Canada job vacancies
The highest increase in job vacancies was reported in the province of Manitoba during this period, 10.7 percent or 32400. In Saskatchewan, the increase was 7.5 percent or 24300. Similarly, the healthcare and social services sector witnessed the highest increase in job vacancies, 8.7 percent. The demand for registered nurses and registered psychiatric nurses has increased by 17 percent. The job vacancies for nurse aides, orderlies and patient service associates also increased by 37.5 percent. 20.7 percent was the increase in job vacancies for licensed practical nurses, according to Statistics Canada.