AA / Montreal / Hatem Katto
The Federal Statistics Canada agency announced, on Friday, that the number of vacancies in Canada broke a new record in April 2022, exceeding the one million mark.
That’s what emerges from a press release published Friday on the federal agency’s website.
This is an increase of more than 40% in one year, according to Statistics Canada, indicating that this situation is contributing to higher wages but also fueling fears of inflation.
Note that Canada has been facing an inflationary spiral for several months now. The inflation rate was 7.7%.
The number of job vacancies came to just over a million at the beginning of April, up more than 40% from the same time inflation concerns surfaced.
The number of job vacancies Canadian employers are looking to fill stands at 1.1 million, an increase of 308 thousand compared to April 2021.
“In April, for the first time, wage employment in all provinces returned to, or exceeded, the level observed in February 2020, before the COVID-19 pandemic,” the statement read.
According to observers of the Canadian economic landscape, this upward trend in job vacancies began in the first quarter of 2016.
Last May, Canada’s unemployment rate hit a historic low of 5.1%. Historically, this is the lowest rate since 1976, when comparable data became available.
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