Canadian payroll employment rises because of regular hiring. Payroll employment indicates those individuals receiving pay or pay benefits under their employers. However, this number increased in November last year, implying the steady hiring of employees. This also means Canada’s economy is back on track, resuming its pre-pandemic standards.
Consequently, several industries also witnessed a decline in employment opportunities. This is because Canadian employers had the chance to fill the urgent job vacancies amidst labor shortages. On the whole, Canadian payroll employment witnessed a rise of 7,100 jobs. The increase contrasted with the decline in professional scientific and technical services, public administration sectors, and finance and insurance. This decline occurred due to the deterioration in the retail trade space on a larger scale.
Overall, the total number of employment vacancies was reduced by 20,700 positions in November 2022. As a result, there were 850,300 job vacancies throughout the country. It reflects a reduction of 151,900 job positions compared to the earlier one million vacancies in May 2022. Hence, it is evident that economic growth will recover faster to the pre-pandemic level with the regular production of goods and services.
Canadian payroll employment rises
The rise in payroll employment clearly indicates that companies require workers and are currently hiring employees on a larger scale. Increased employment will further result in immense economic growth. Furthermore, newcomers will essentially have to understand which sectors are undergoing increased payroll employment as of now. This will help them identify the current businesses witnessing a rise in recruitment trends in Canada.
Payroll employment witnessed a major increase in November last year for the following occupations:
- Above 5,600 positions for Professional scientific and technical services.
- More than 4,300 job vacancies in the construction sector.
- Over 4,700 positions were available in the Finance and Insurance sector.
- Beyond 4,800 job vacancies in Public Administration.
A steady job vacancy rate
Although there was a sharp rise in payroll employment in November last year, Canada continued to have a higher job vacancy rate in various sectors.
Besides this, the Healthcare and Social Assistance sector comprises at least 131,800 job vacancies. However, this challenge continues to persist with the need for more healthcare workers. Although vacancies have been reduced by 19,300, the total number of jobs continues to rise. This also accounts for a rise of 45 percent from March 2020 onwards. The need for more healthcare workers prevails strongly in the country. This requirement is visible through the Canadian government’s initiatives, including:
- We are emphasizing accreditation to internationally educated healthcare professionals.
- Removal of barriers for Physicians.
The construction sector also witnessed a steady rise in the number of vacancies, with around 79,000 job openings. Despite immense profit in the payroll employment in November last year, job openings became available in this sector. Moreover, this implies a rise in business profits and a steady need for employees in the construction sector.
In November 2021, the number of vacancies stood firm at 73,900 in the construction sector. Amidst the economic recovery, this sector is in constant need of workers. The significance of such labor can be seen in Canada’s efforts to help the construction workers devoid of work status.
On the other hand, the professional, technical, and scientific services consisted of 52,000 vacancies. Just like the construction sector, it also acquired several profits in payroll employment. However, this sector is currently facing the challenge of unfilled job vacancies.
This situation also makes it evident that there’s a strong recruitment and a steady rise in the demand for workers in Canada. From October 2020 onwards, this sector has only witnessed positive job profits. Even in the wake of rising job vacancies, the demand for these employees continues to persist.
Currently, Canada is unable to fill the rising demand for workers, and hence, immigration is going to be vital to combating these existing labor shortages. Bill C-19, which received Royal Assent, enabled Sean Fraser to build groups within the Federal Express entry pool. He shall create such groups based on factors like language proficiency, education, and occupation of potential candidates. Furthermore, these candidates will receive the ITAs to combat the social and economic requirements. Overall, occupations with consistent job openings will have greater chances of being targeted during these draws.