April 23, 2024 11:22 PM

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Canada’s Vibrant Job Market Contributes to Vacancy Filling and Higher Payroll Employment

Most industry sectors witnessed a drop in job vacancies, with a notable rise in payroll employment.

The November 2022 data shows a considerable number of employees beginning to get employment benefits from their employers, marking a sharp increase in payroll employment by 71,000 jobs. 

The boost in employment is perceptible in 10 out of 15 industry sectors in Canada. The growth in hiring puts Canada in a powerful position to achieve pre-pandemic economic output.

The main sectors responsible for better hiring trends are:

  • Finance and insurance 
  • Professional, scientific and technical services
  • Public administration
  • Construction 

The growth in payroll employment across these sectors caused a significant drop in job vacancies. The cumulative number of vacant positions across Canada was 850,300, after a reduction of 20,700 positions in November 2022. Job openings were down by 151,900 since May 2022 when the number of vacant positions hit a historic one million mark.

Current job openings 

The rise in payroll employment highlights the need for more workers, as many companies are on a hiring spree. The positive outlook of payroll employment underlines a better hiring climate in Canada. Aspiring immigrants can determine their job prospects by knowing sectors showing better hiring trends.

The following sectors continue to face acute labor shortages:

  • Healthcare and social assistance- 131,800 vacant positions
  • Construction- 79,000 vacant positions
  • Professional, scientific and technical services- 52,000 vacant positions

Canada depends on the immigration of skilled workers to fill these job vacancies, as its present demographics cannot address the labor shortage. Immigration, Refugees and Citizenship Canada (IRCC) has plans to focus Express Entry selection on occupations, job skills, and language abilities of applicants to fill up vacant positions across these industry sectors.

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