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August 29, 2024JOB VACANCIES, JUNE 2024 Monthly (June 2024 vs May 2024, seasonally adjusted)
Nova Scotia had 15,355 job vacancies in June 2024 with a vacancy rate of 3.4%. Canadian employers were actively recruiting for 554,005 positions in June with a vacancy rate of 3.1%. The national job vacancy rate was unchanged in June 2024 with five provinces reporting higher vacancy rates. The highest vacancy rate was reported in Manitoba and the lowest vacancy rate was reported in Ontario.
When compared to May 2024, the number of job vacancies in Nova Scotia rose 1.5% (+220 jobs). National job vacancies declined 0.5% (-2,865 jobs). Job vacancies declined in four provinces led by Saskatchewan. Six provinces reported higher vacancies compared to the previous month, with the strongest growth in Prince Edward Island.
Year-over-year (June 2024 vs June 2023)
When compared to June 2023, the job vacancy rate in Nova Scotia declined 0.4 percentage points. Nationally, the job vacancy rate declined from 4.2% to 3.1%. Compared to one year earlier, the job vacancy rate declined in all provinces.
When compared to June 2023, the number of job vacancies in Nova Scotia declined 11.3% or 1,960 vacancies. National job vacancies declined 25.6% or 190,505 vacant jobs. All provinces saw declines in the number of vacancies over the twelve month period ending in June. In percentage terms, Quebec, Saskatchewan, and Prince Edward Island declined the most and Manitoba declined the least compared to June 2023.
Trend
Nationally, job vacancy rates trended downward after peaking in March-May 2022. In May and June 2024, the job vacancy rate was at its lowest level since March 2020, after which the data series was suspended until October 2020. Nova Scotia's job vacancy rate peaked in the spring of 2022 and has also been on a downward trend. The Nova Scotia job vacancy rate has been below the national rate for most of this period. Job vacancy rate rose above the national average in May and June 2024.
Nova Scotia's job vacancies peaked at 22,715 in June 2022.
Canada job vacancy rate and job vacancies by industry, June 2024
Nationally, health care/social assistance, accommodation/food services, and transportation industries had the highest job vacancy rates. The lowest vacancy rates were in education and information/culture.
Health care and social assistance had the highest number of vacancies at 119,500 in June. Compared to June 2023, the number of vacancies declined in every industry.
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.
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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