You are here: Home » International » News » Economy
Business Standard

Too many jobs: Canada is desperately trying to fill 430,000 vacancies

The job vacancy rate has risen to 3.3 per cent, from 2.9% a year ago

Topics
Canada  |  Justin Trudeau  |  Jobs

AFP | PTI  |  Montreal 

Job

A business group warned on Tuesday that a labour shortage in is deepening, with more than 430,000 at small and medium-sized firms remaining unfilled for at least four months.

The job vacancy rate has risen to 3.3 per cent, from 2.9 per cent a year ago, the Canadian Federation of Independent Business (CFIB) said in a report.

This is "above the records set before the 2008 financial crisis, and businesses are really feeling the pressure," said CFIB chief economist Ted Mallett.

According to the government statistical agency, the unemployment rate fell 0.1 percentage points in October to a near record low of 5.8 per cent.

The labour shortage, according to the CFIB, is particularly acute in the services, construction, agricultural, and oil and gas sectors, and is putting upward pressure on wages.

The data release comes as the federal and Quebec governments spar over immigration targets.

Quebec Premier Francois Legault has pledged to cut immigration, despite the mostly French-speaking province being hit hardest by a lack of skilled workers.

"What I hear across Quebec is entrepreneurs, businesses concerned about the labor shortage, so I'm not sure it's the best time to cut immigration," Prime Minister commented.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, December 05 2018. 00:45 IST
RECOMMENDED FOR YOU
.