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July 27, 2023JOB VACANCIES, MAY 2023 Statistics Canada released today monthly job vacancy results for May 2023. The data in this article refers to seasonally adjusted data.
Monthly (May 2023 vs April 2023, seasonally adjusted)
Nova Scotia had 19,780 job vacancies in May 2023 with a vacancy rate of 4.3%. Canadian employers were actively recruiting for 758,955 positions in May with a vacancy rate of 4.3%. The highest vacancy rates were reported in Quebec and British Columbia while the lowest vacancy rate was reported in Newfoundland and Labrador.
Job vacancy rates decreased 0.1 percentage points both in Nova Scotia and nationally compared with April 2023. Job vacancy rates declined in seven provinces, increased in one province and were unchanged in two provinces compared to the previous month.
When compared to April 2023, the number of job vacancies in Nova Scotia increased 0.8% or 160 jobs - the second fastest increase among provinces. National job vacancies declined 3.3% or 26,040 jobs. Over the same period, vacancies decreased in eight provinces. In percentage terms, Newfoundland and Labrador reported the largest gain while Manitoba reported the largest decline.
Year-over-year (May 2023 vs May 2022)
When compared to May 2022, job vacancy rate in Nova Scotia declined 0.8 percentage points. Nationally, job vacancy rate declined from 5.7% to 4.3%. Job vacancy rates declined in all provinces.
When compared to May 2022, the number of job vacancies in Nova Scotia declined 14.4% or 3,325 vacancies. National job vacancies declined 24.3% or 244,285 vacant jobs. All provinces declined in the number of vacancies over the twelve month period. In percentage terms, Prince Edward Island declined the most.
Trend
Nationally, job vacancy rates peaked in March-May 2022 and have steadily declined since. Nova Scotia's job vacancy rates trended up for most of 2021 and early 2022 before declining through early 2023. The number of job vacancies in Nova Scotia peaked in May 2022 at 23,105 and slowly declined to 18,660 in March 2023 and picked up to 19,780 in May 2023.
Canada job vacancy rate and job vacancies by industry, May 2023
Nationally, the accommodation and food services sector had the highest job vacancy rate (7.0%) and the second highest number of job vacancies at 98,145. This industry has had the highest vacancy rate among all industries for over a year.
After accommodation and food services, the next highest job vacancy rates in Canada were reported in personal, repair services, construction, and healthcare, social assistance. The lowest vacancy rates were in education, utilities and information, culture.
Health care and social assistance had the highest number of vacancies at 134,535 in May. Both the number of vacancies and the job vacancy rate (5.6%) decreased compared to May 2022.
Notes: The job vacancy rate is the percentage of job positions (both filled and vacant) that are vacant. A higher job vacancy rate indicates a tighter labour market where it is more difficult for employers to find suitable candidates for the positions offered. A lower job vacancy rate signals labour market slack and potentially more job seekers competing for each vacant position.
Information on monthly job vacancies will continue in future Statistics Canada releases, and a more detailed analysis will be released with quarterly estimates from the Job Vacancy and Wage Survey.
Sources: Statistics Canada, Table 14-10-0432-01 Job vacancies, payroll employees, and job vacancy rate by provinces and territories, monthly, adjusted for seasonality, Table 14-10-0406-01 Job vacancies, payroll employees, and job vacancy rate by industry sector, monthly, adjusted for seasonality
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