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Job vacancies in Canada have hit a new peak

According to the Job Vacancy and Wage Survey conducted by Statistics Canada, during the second quarter of 2022, there were more job vacancies than in the previous two quarters. Vacancies increased 4.7% from the first quarter of 2022 and 42.3% over the second quarter of 2021. There are slightly over one million job openings in Canada, with a rate of 5.7 percent, which is the highest ever recorded. Vacancies are measured as the total number of vacant posts that match aggregate labour demand. Beginning in the first quarter of 2020, there has been an increase in labour demand exceeding an increase in payroll employment, resulting in the current record-high number of job openings.

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