Canadian Job Vacancies Decline at a Slower Rate in 2023Q4
Job vacancies, fourth quarter 2023
On Tuesday, Statistics Canada (StatCan) reported that in 2023Q4, job vacancies in Canada fell by 3.6%, or 25,400, to 678,500. The job vacancy rate—which corresponds to the number of vacant positions as a proportion of total labor demand—decreased 0.1 percentage point to 3.8%.
The decline marks the sixth consecutive quarterly decrease following the record high of 983,600 reached in 2022Q2. The job vacancy rate in Q4 was at its lowest since 2021Q1.
Payroll employment increased by 0.2%, or 37,700, in Q4. Total labor demand—the sum of filled and unfilled vacant positions—was virtually unchanged from Q3 and was up 0.5% when compared to 2022Q4.
StatCan notes that there were 1.8 unemployed persons for every job vacancy in Q4, up from 1.7 in Q3 and 1.2 in 2022Q4.
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