More than 800,000 Job vacancies as Canada’s economy revived

Canada offers more than 800,000 job opportunities in restaurants, bars, and other industries like entertainment and in recreation. Currently, Canada is reviving its economy. Hence this would be the right time for temporary foreign job seekers to immigrate to Canada.

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Canadian employers are actively recruiting 815,800 positions in June 2021, as the restrictions for the vaccinated individuals were eased and allowed entry for foreign nationals. The job vacancy rate, which measures the occupancy and vacancy rate, reached five percent in June 2021. The biggest rise in the need for workers in Canada was seen in June. Based on the number of jobs available, mostly in the food services industry like restaurants, catering companies, food preparation, and pubs.

Restaurants and Hotels Struggling For Workers

The number of job vacancies in accommodation and food services exceeded the vacancies in health care and social assistance. The vacancies in accommodation and food services are recorded as 129,100, whereas in health care, and social assistance is 109,300. The third highest number was recorded by Retail trade, which is 94,300. Restaurants in Canada are searching for servers as they try to rebuild their serving staff after easing the lockdown restrictions, which were shut due to COVID-19 public health restrictions. Due to the pandemic, the restaurants were shuttered, and the employees were forced to take up social assistance, and employers found it difficult to call back their staff. Because of which the restaurants are changing their opening and closing timings, most of them left these industries and searched other jobs in the other industries that were just booming during the pandemic. The same was observed in the arts, entertainment, and recreation sectors. Hence the job vacancy rate has gone high with 8.3 percent in June.

Demand For Trades Still High

The demand for workers in construction companies is also high, having a vacancy rate of 6.1 percent. This seems to be because of the high demand for skilled workers in the market due to pandemics. People belonging to good trades always seem to be in high demand. Because of the necessity of extra cleaning and safe disposal of the materials during the pandemic, the waste management, and remediation services sector is also facing the same issue. Hence these sectors also started hiring workers, as the job vacancy rate in the waste management and remediation services sector has gone to 6.5 percent in June 2021.

The entire service sector is seriously searching for workers in Canada. In June 2021, the vacancies in the “other services” category showed a job vacancy rate of 6.1 percent. Among the provinces in Canada, the highest number of vacancies were recorded in June were in British Columbia and Quebec. At the same time, the provinces with the lowest job vacancy rates were Manitoba and Nova Scotia.
 

Will A Return To Pre-Pandemic Retirement And Job Quitting Levels Worsen Emerging Labour Shortages In Canada?, Bank of Canada senior economist Andrew Agopsowicz revealed in mid-August that fewer people were ready to leave their jobs during the height of the pandemic.

 
Healthier economy likely to fuel more retirements

Agopsowicz states that the labor market uncertainty during Covid times has resulted in a significant decrease in the voluntary job departures. The retirement rate fell down to 20 percent compared to the pre-pandemic period. The number of people dropping their jobs due to dissatisfaction dropped 40 percent at the same time. The economy is slowly bouncing back, as many people are re-thinking their options and choosing to retire or quit their jobs. As the job market is recovering, these measures are getting back to pre-crisis levels as per the economist's views.

Workers quitting their jobs increased by threefold in June 2021

Counting in June alone, approximately the number of workers quitting their jobs has increased by threefold. The number has reached 16,700, compared to the same month a year earlier. Coming to the second half this year, the Bank of Canada senior economist figures 125,000 workers in Canada are likely to retire. Adding all these to the growing number of job vacancies, nearly it counted to 550,000 in the first quarter of this year. This spells the bundle of opportunities for more foreign nationals to immigrate to Canada. A quick solution for employers facing labor shortages would be the Global Talent Stream (GTS) of the Temporary Foreign Worker Program (TFWP), under which Canadian work permits and visa applications are processed within two weeks.
 

“Significant pressure (on the labor market) may be felt in industries already back at previous employment levels. The vacancy rate in the professional, scientific, and technical services industry, for example, has already reached serious highs. And the Bank of Canada’s Business Outlook Survey indicates that while we are still in a period of labor market slack, availability of skilled workers is tightening" says Agopsowicz. notes Agopsowicz.

Canada is set to re-open for foreign nationals

Canada's border is set to allow foreign nationals as the COVID-19 cases are kept low. It is even open for the non-essential international travel from September 7, 2021. Until the border is fully open for immigrants, there can't be a quick fix for the employers facing labor shortage. “As shortages grow, so will the urgency for Canada to turn to new and under-utilized sources of labor force growth, including immigration, women, and visible minorities. However, these will not provide much relief in the short run. While the government has lifted the number of new permanent residents to pre-pandemic levels, most of this only reflects a change of status from temporary to permanent. It won’t increase the population overall. Still, with the border now open to more immigrants, we can expect the flow of newcomers to reduce the pressure on labor markets,” says Agopsowicz. While in Ottawa, the immigration Minister Marco Mendicino is very confident that Canada will definitely meet its target of 401,000 new permanent residents this year. Apart from all these, Canada continues to lead the world in immigration. Canada is making its immigration plans to meet its commitment to land 401,000 new permanent residents.

Ottawa planning to invite in 401,000 immigrants

Ottawa is planning to bring its own figures, even though the country welcomed 108,730 new permanent residents in the first five months of 2021. As per the reports from national daily newspaper, Canada welcomed another 35,600 into the country in June, making the total to 144,330, in the first half of 2021. The immigration levels were set to invite 411,000 new permanent residents in 2022 and another 421,000 in 2023. At the same time, the Canadian federal government plans to set targets of 351,000 in 2021 and 361,000 in 2022. As per the Bank of Canada’s Business Outlook Survey, the availability of skilled workers is tightening, while Canada is still in a period of labor market slack. If you are looking to Study, Work, Visit, or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

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