Job vacancies in Canada increased to 656,700 in February, up by 21,800 (+3.4%)

Highlights: StatCan reports an increase in job vacancies in Canada

• The recent StatCan release reports an increase in job vacancies in Canada.
• The number of job openings in the country rose to 656,700 in February, up by 3.4% in January 2024.
• The overall payroll employment in Canada year-over-year increased by 154,700 in February 2024.
• Provinces like Ontario and Alberta recorded the highest number of job openings.

 

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Sector-wise breakdown of the monthly payroll employment

Five out of 20 sectors reportedly had an increase in the monthly payroll employment. Payroll employment prominently rose in the public administration, Finance, and insurance sectors.

 

The gains in public administration were seen in municipal, local, and regional areas, while the Finance and insurance sector witnessed gains in credit intermediation, commodity contracts, and other financial investment activities.

 

The year-over-year payroll employment statistics show an increase of 56,500 in public administration and 14,200 in Finance and insurance.

 

The table given below has details of the sector-wise monthly payroll gains.

Sector	Percentage of gains
Public administration	+6,600; +0.5%
Finance and Insurance	+6,400; +0.8%
Health care and Social assistance	+5,200; +0.2%
Real estate, rental and leasing	+900; +0.3%

 

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Job Vacancies in Canada, February 2024

As of February 2024, the overall job vacancy rate in Canada had increased to 656,000, an increase of 3.4% compared to January. The total labor demand also increased by 0.5%, while the job vacancy rate changed to 3.7%.

 

The table given below has details of the sector-wise breakdown of the job vacancies in Canada in February 2024:

Sector	Percentage of increase in job vacancies	Total number of job vacancies
Transportation and warehousing	66.40%	16,300
Finance and insurance	17.30%	27,700
Health care and social assistance	5.20%	1,28,200
Manufacturing and retail trade	2.50%	41,200

 

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Job vacancies in Canadian provinces

Alberta and Ontario recorded the highest number of job openings in February 2024. Ontario had 234,900 job vacancies, while Alberta had 82,500.

 

The table given below has details of the job vacancies across different Canadian provinces.

Province	Increase in percentage of job vacancies
Ontario	8.40%
Alberta	13.70%
British Columbia	4.30%
Saskatchewan	4.00%
Prince Edward Island (PEI)	3.00%
Newfoundland and Labrador	2.90%

 

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