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July 25, 2024JOB VACANCIES, MAY 2024 Monthly (May 2024 vs April 2024, seasonally adjusted)
Nova Scotia had 15,215 job vacancies in May 2024 with a vacancy rate of 3.3%. Canadian employers were actively recruiting for 559,650 positions in May with a vacancy rate of 3.1%. The national job vacancy rate declined 0.1 percentage points in May 2024 with six provinces reporting lower vacancy rates. The highest vacancy rates were reported in Saskatchewan and British Columbia and the lowest vacancy rate was reported in Prince Edward Island.
When compared to April 2024, the number of job vacancies in Nova Scotia rose 1.2% (+175 jobs). National job vacancies declined 1.6% (-9,255 jobs). Job vacancies declined in five provinces led by New Brunswick. Five provinces reported higher vacancies compared to the previous month, with the strongest growth in Manitoba, Saskatchewan and Alberta.
Year-over-year (May 2024 vs May 2023)
When compared to April 2023, the job vacancy rate in Nova Scotia declined 1.2 percentage points. Nationally, the job vacancy rate declined from 4.4% to 3.1%. Compared to one year earlier, the job vacancy rate declined in all provinces.
When compared to May 2023, the number of job vacancies in Nova Scotia declined 26.1% or 5,360 vacancies. National job vacancies declined 28.0% or 217,115 vacant jobs. All provinces saw declines in the number of vacancies over the twelve month period ending in May. In percentage terms, Prince Edward Island declined the most and Saskatchewan declined the least compared to May 2023.
Trend
Nationally, job vacancy rates trended downward after peaking in March-May 2022. In May 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 2024 similar to the same month last year.
Nova Scotia's job vacancies peaked at 22,715 in June 2022.
Canada job vacancy rate and job vacancies by industry, May 2024
Nationally, the accommodation/food services, health care/social assistance and personal/repair industries had the highest job vacancy rates. The lowest vacancy rates were in education information/culture.
Health care and social assistance had the highest number of vacancies at 120,510 in May. Compared to May 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