Job Vacancies Continue to Tumble, Canada Now Has 2.3 Unemployed Persons for Every Job Vacancy

Recent data from Statistics Canada reveals a continued decline in job vacancies across the country. In April 2024, job vacancies fell by 5.3% to 575,400, marking the third consecutive monthly decrease and reaching the lowest level since January 2021.

The job vacancy rate dropped to 3.2% in April, down 0.2 percentage points from March and 1.3 percentage points lower than the previous year. This shift has led to a worrying increase in the unemployment-to-job vacancy ratio, with 2.3 unemployed persons for every job vacancy in April, up from 2.2 in March.

Payroll employment also experienced a decline, falling by 22,700 (0.1%) in April following three months of consecutive increases. The manufacturing sector was hit hardest, shedding 6,000 jobs (0.4%). 

The top 3 sectors with payroll growth, as Kirk Lubimov notes in the above post, are taxpayer-dollar-supported jobs, further reinforcing how the country’s public sector bloat has long masked a struggling private job market.

Average weekly earnings showed a slight increase, rising 3.7% year-over-year to reach $1,240 in April. However, this growth remained unchanged for the third consecutive month when viewed on a month-to-month basis.

The decline in job vacancies was widespread, affecting seven sectors including manufacturing, retail trade, and transportation and warehousing. Geographically, Ontario, Alberta, Manitoba, and Prince Edward Island saw the most significant decreases.

British Columbia maintained the highest job vacancy rate at 4.0%, while also boasting the lowest unemployment rate (5.0%) and unemployment-to-job vacancy ratio (1.5) among all provinces.


Information for this story was found via Statistics Canada, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

When 4% of Global Copper Disappears Overnight | David Gower – Emerita Resources

Mining M&A: Gold X2 Acquires Kesselrun Resources

They Said Oil Was Dead. They Were Wrong. | Michael Judson – Record Resources

Recommended

First Majestic Posts Record Quarterly Silver Production In Q3

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

Related News

Windsor, Oshawa Lead Spike in Joblessness as National Rate Hits Nine-Year Peak

Canada’s seasonally adjusted unemployment rate rose to 7.0% in May 2025, marking the highest level...

Saturday, June 7, 2025, 09:32:00 AM

Record Number of Americans Quitting Their Jobs as Fears Over Coronavirus Infections Mount

As the US Bureau of Labour Statistics released its latest Job Openings and Labour turnover...

Tuesday, August 11, 2020, 10:15:31 AM

Incoming Unemployment Data Paints Grim Picture of Economic Situation in the US

It is nearing a month since national lockdowns and social distancing measures were put in...

Sunday, April 26, 2020, 02:00:00 PM

Nearly 6.7 Million American Households at Risk of Eviction Once Unemployment Benefits, Eviction Moratoriums Expire

Despite the continued increase in coronavirus cases across the US and many Americans still unemployed,...

Friday, July 3, 2020, 07:14:00 PM

Federal Government’s CERB Payments Have Led Increased Consumer Spending

It appears that the Canadian federal government’s stimulus spending has persevered the economy through the...

Friday, June 26, 2020, 05:03:00 PM