Canada’s monthly payroll data that was released to the public recently contains a detailed report on employment, wages, hours, and job opportunities for May 2022.
As per our research and findings, fewer Canadian employees are receiving compensation or benefits from their employers for the first time since May 2021.
Based on the data gotten from the Survey of Employment, Payrolls, and Hours, poll concluded that as of last May, 26,000 positions were no longer in use.
The provinces with the largest decreases were Ontario and Manitoba, with 30,000 and 2,500 jobs available, respectively. British Columbia was the only province to see a rise in payroll workers.
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Payroll workforce reductions are frequent across most sectors
According to recent economic data, the service sector—which includes jobs in social assistance, healthcare, and education—saw some of the sharpest declines in employment. The sources state that this resulted in the loss of almost 17,000 payroll workers.
Additionally, the sector of construction as a whole had a large decline in employment. May saw the lowest number of employed persons since July 2021—roughly 17,500 fewer.
In Ontario, the construction sector lost over two thirds of its jobs. Strikes that occurred throughout the province are mostly to blame for this loss, which significantly delayed a number of projects.
Employment in retail is still greater than it was in 2021. Leading the country, Ontario lost the majority of its retail jobs.
For the second month in a row, fewer people are on the payroll in the retail sector. However, as of May 2021, the retail industry’s overall employment rate is 6% higher.
Retail employment increased in Labrador, British Columbia, Newfoundland, New Brunswick, and Quebec, but not in Ontario.
The only industry in each province to see growth was the professional, scientific, and technology services sector.
Over 10,000 new employment were created by this business nationally, the majority of which were in high-tech industries like computer system design and related services.
Weekly Salaries are rising by 2.5% on average.
The retail trade industry saw the most growth in weekly pay for May, rising 9.3% over the same period in 2021, despite the general drop in employment. Professional, scientific, and technical service wages have also gone up by 8.1%.
On the other hand, the average weekly salary in the arts, leisure, and recreation sector decreased by 9.7%.
Workers’ average weekly pay increased by 2.5% compared to April’s data. The most common causes of this are pay raises or changes made to the workplace. The study’s findings show that more hours weren’t put in to get the higher average, which was found to be 1.5% higher than it was before to COVID-19.
These numbers also show the overall annual growth trend. New Brunswick gained the most, 7.4%, when comparing May 2021 to May 2020.
In second place with an annual growth rate of 5.9% was Newfoundland and Labrador. Furthermore, the average income rose annually in seven more Canadian provinces.
There are more open positions in the healthcare industry.
In June, Canada’s jobless rate dropped even lower to 4.9% from a record-low of 5.1% in May. According to the study, there are currently 143,000 job openings in the social services and healthcare sectors, which is 6.1% more than there were a year ago. Compared to the 5.4% vacancy rate in April and the 20% rate from May 2021, this indicates a notable increase.
In both Manitoba and Nova Scotia, there were 161,000 available jobs in the hospitality and food services industry as of May. The unemployment rate in these two provinces is over 10%. For the thirteenth consecutive month, Manitoba and Nova Scotia had the highest employment opportunities in the hospitality and food services sectors.
Jobs Available Exceed Unemployment
Canada has more than a million open positions. Despite an approximate 300,000 increase since May 2021, this corresponds to data from April.
The May 2022 Labor Force Survey indicates that as Canada’s population ages, there will be a greater need for immigration due to a growing labor shortage in various industries, as indicated by a high job vacancy rate and a low unemployment rate.
For the first time in decades, Canada has Planned to welcome at least 430,000 permanent citizens in 2023.
They have planned to increase the number of the permanent visas being issued to welcome great minds.
By 2024, their goal is to rise to that number to more than 450,000.
Finding a job can be tough, but it doesn’t have to be. With the right job search websites, you can find your dream job in no time. Canada is home to a number of great job search websites, so there’s no excuse not to start your job search today.