Posted on August 01 2022
The monthly payroll employment, earnings, hours, and job vacancy report for May 2022 is out. It has become evident that the Canadian job scene has been quite eventful so far in 2022.
The report gave an interesting picture of rising opportunities for employment in Canada. The report reflected the happenings and trends in the Canadian job sector involving payroll employees.
Low unemployment (5.1%) and high job vacancies in Canada have been broadly the characteristics of the year 2022 as revealed in the May 2022 report.
The statistics on payroll employees in May 2022 were interesting to observe. Though the number of payroll employees was dropping notably in some sectors, the employment rate in some key sectors was far better compared to 2021, in most Canadian provinces.
Take retail trade for instance. Except in Ontario, other provinces including Quebec, British Columbia, New Brunswick, and Newfoundland & Labrador had a rise in employment. This growth was significant in comparison to the numbers in May 2021.
Coming to professional, scientific, and technical services sectors, every Canadian province registered a rise in the rate of employment. There was an overall gain of 10,000 jobs in this sector.
Major growth was seen in tech jobs in Canada related to computer systems design and services that are tech-related.
A very interesting development amongst varying employment statistics was the steady increase in average weekly earnings. In May 2022, the biggest rise in average weekly earnings happened in the retail trade sector. The growth was 9.3% compared to the same period in 2021.
The professional, scientific, and technical services also showed an 8.1% increase in wages in May 2022. However, the arts, entertainment, and recreation sector had a significant 9.7% dip in wage growth that it has to improve on in the days to come.
Owing to increased wages as well as changes to employment for workers, the average weekly earnings for employees was up by 2.5% in May 2022. This was in comparison with the April 2022 report.
While the increase in earnings is easily attributed to the increase in hours worked, this wasn’t exactly the reason behind the statistics revealed in May 2022 report. The number of hours worked hasn’t changed from 1.5% above pre-COVID levels, which was recorded in April 2022.
The trend towards year-over-year increases in average earnings is apparent in 2022.
There are over a million job vacancies in Canada that are up for grabs for skilled immigrants. Since May 2021, the increase in job vacancies is by 300,000 jobs.
The job vacancy rate in the healthcare and social assistance sectors saw one of the sharpest rises with 6.1% (143,400 vacancies). This was 5.4% in April 2022. Compared to May 2021, the increase in job vacancies in these sectors happened by 20%. Payroll employment increased by 3.8%.
In May 2022, Manitoba and Nova Scotia had job vacancy rates of over 10%. The 161,000 job vacancies in the accommodation and food services sector in these provinces were the major contributor to this growth.
As per the Labor Force Survey for May 2022, the number of job vacancies in Canada available to immigrants has been growing significantly! Canada’s current plan is to welcome its highest ever the number of Canada PR holders.
Know your eligibility to immigrate to Canada through Y-Axis Canada Immigration Points Calculator.
The Canada immigration levels plan for 2022 is 430,000 newcomers. This is targeted to rise to over 450,000 immigrants in 2024. This is the best time for aspiring immigrants to make their Canada immigration plans and attempts.
If you are willing to work in Canada, talk to Y-Axis, the leading immigration and career consultant in the UAE.
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Posted On September 27 2023
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