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The unemployment-to-vacancy ratio has steadily decreased since the beginning of the pandemic

According to a Statistics Canada report, the unemployment-to-vacancy ratio has decreased to 1.3 in the fourth trimester of 2021. In the same period, in 2020, the ratio was 2.9. Nationally, 49.1% (449,200) of job vacancies in all industries were vacant for 60 days or more, which is an indication of the tighter Canadian labour market, as fewer unemployed workers are available to fill vacancies. In contrast to the unemployment rate, the number of job vacancies was up in all 20 sectors in Canada when compared to two years earlier.
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