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November 28, 2024JOB VACANCIES, SEPTEMBER 2024 Monthly (September 2024 vs August 2024, seasonally adjusted)
Nova Scotia had 14,080 job vacancies in September 2024 with a vacancy rate of 3.1%. Canadian employers were actively recruiting for 528,190 positions in September with a vacancy rate of 3.0%. The national job vacancy rate edged up 0.1 percentage point in September 2024 with six provinces reporting higher vacancy rates from the previous month. The highest vacancy rate was reported in Prince Edward Island and the lowest vacancy rate was reported in Newfoundland and Labrador.
When compared to August 2024, the number of job vacancies in Nova Scotia grew 5.4% (+725 jobs). National job vacancies rose 1.4% (+7,065 jobs). Job vacancies rose in seven provinces with the fastest increase in Prince Edward Island. Three provinces reported lower vacancies compared to the previous month, with the fastest decline in Newfoundland and Labrador.
Year-over-year (September 2024 vs September 2023)
When compared to September 2023, the job vacancy rate in Nova Scotia declined 0.2 percentage points. Nationally, the job vacancy rate declined from 3.6% to 3.0%. All provinces reported lower job vacancy rates compared to one year ago.
When compared to September 2023, the number of job vacancies in Nova Scotia declined 5.4% or 800 vacancies. National job vacancies declined 18.1% or 116,425 vacant jobs. All provinces saw declines in the number of vacancies over the twelve month period ending in September. In percentage terms, New Brunswick declined the most compared to September 2023.
Trend
Nationally, job vacancy rates trended downward after peaking in March-May 2022. In August 2024, the job vacancy rate was at its lowest level since January 2018.
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.
Nova Scotia's job vacancies peaked at 22,715 in June 2022 and have been trending down. Job vacancies have declined at a slower pace in 2024.
Canada job vacancy rate and job vacancies by industry, September 2024
Nationally, health care/social assistance, personal/repair services and accommodation/food services industries had the highest job vacancy rates. The lowest vacancy rates were in education, management of companies, and utilities.
Health care and social assistance had the highest number of vacancies at 112,880 in September 2024. Compared to September 2023, the number of vacancies declined in every industry except finance/insurance, information/culture, and utilities.
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.
During the COVID-19 pandemic, data collection was suspended from April to September 2020. There remains a break in this data series.
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