(OTTAWA) The number of job vacancies in Canada hit an all-time high in March, ending a five-month decline, Statistics Canada said Thursday.
Posted at 3:48 p.m.
According to the federal agency, employers were looking to fill more than a million positions in early March, up 186,000 positions, or 22.6%, from February, and 382,000 positions, or 60.5 %, compared to March 2021.
The unadjusted job vacancy rate, which measures the number of job vacancies as a proportion of all jobs, was 5.9% in March, matching the September 2021 record.
Vacancies rose by more than a third in accommodation and food services and in retail trade, while they reached a record number in health care and social assistance and in construction .
Employers in the accommodation and food service sector were seeking to fill 158,000 positions, with a vacancy rate of 12.8%, the highest of any sector for an eleventh consecutive month.
There were 109,000 jobs available in retail, along with 154,000 in health care and 82,000 in construction.
The number of job vacancies rose in all provinces, but the largest increases were seen in Saskatchewan, Nova Scotia and Newfoundland and Labrador.
Before March, the number of job vacancies had declined for five consecutive months due to seasonal trends with increased economic activity leading to higher labor demand.
An unemployment rate at a record low of 5.3% and a record participation rate of 88.6% meant there were an average of 1.2 unemployed for every job vacancy in March, down from 1, 4 in February and 2.6 in March 2021.
The ratios were lowest in Quebec and British Columbia and highest in Newfoundland and Labrador.
Meanwhile, average weekly earnings rose 0.9% from February, and 4.3% year over year, double the increase seen a month earlier. The consumer price index rose 6.7% in March, compared to March 2021.
Statistics Canada also said the number of people working in retail exceeded its pre-pandemic level for the first time in March.