In Canada, there are more than 10 lakh vacant jobs. The number of vacancies has increased since May 2021 by over 3 lakh.
The Labor Force Survey for May 2022 indicates a growing labor shortage in a number of industries and an increased demand for immigration to Canada as the country’s workforce ages and enters retirement.
This, in turn, is leading to a high job vacancy rate. Canada is currently preparing to welcome its largest ever number of permanent residents in 2022 — the target is 4.3 lakh. By 2024, the target would have risen to over 4.5 lakh, a CIC News report stated.
In such a scenario, where unemployment is low and job openings are plentiful, immigrants have the chance to fill open positions.
Therefore, this could be a great opportunity for you if you want to use Express Entry to apply for permanent residency in Canada.
According to another survey, there are now more available posts than ever before in certain states.
In Alberta and Ontario, there were 1.1 unemployed people for every open position in April, down from 1.2 in March and 2.4 from a year earlier.
For every position vacant in Newfoundland and Labrador, there were roughly four unemployed people.
Professional, scientific, and technical services, transportation and warehousing, finance and insurance, leisure and recreation, and real estate all saw record-high vacancies.
Vacancies in the construction industry, too, hit a record high of 89,900 in April, up nearly 45 percent from the same month last year and up 5.4 percent from March.
In May, there were 1.61 lakh open positions in the lodging and food services sector in both Nova Scotia and Manitoba, which had job vacancy rates of over 10 percent.
Accommodation and food services have had the highest number of vacancies for the 13th consecutive month.
Because fewer people are eager to enter the workforce and more people over the age of 55 are leaving it, Canada’s labor market has dropped dramatically this year.
The 90 lakh baby boomers in Canada are expected to retire this decade, according to CIC News.
According to a recent RBC survey, one-third of Canadians are retiring early, and three out of 10 people who are nearing retirement are delaying their retirement because of the pandemic.
In the meantime, in 2020, the fertility rate reached a record low of 1.4 children per woman.