Canadian employers may be doing better than expected, but they aren’t showing much enthusiasm. Statistics Canada (StatCan) data show national job vacancies slipped in November, but it was far from a national trend. Five provinces showed monthly growth, with Saskatchewan and Alberta actually showing a substantial jump in hiring. The drag was primarily in BC and Ontario, with the latter’s vacancy rate now so cold it matches Nunavut.
Canadian Job Openings Plunge, Pre-Pandemic Hiring Levels Despite 10% Population Growth
Canadian job vacancies: Unfilled roles currently hiring.
*Pandemic months withheld by StatCan.
Source: StatCan; Better Dwelling.
Canadian vacancies fell 3.9% (-18.8k jobs) to 465.8k vacant jobs in November, 11.3% (-59.4k jobs) lower than a year prior. Aside from a dip in December 2024, this level hasn’t been seen in nearly six years. Employers are looking to fill roughly the same number of jobs as pre-pandemic, though the population was roughly 10% smaller back then. Today, there’s just one vacant job for every 3.2 workers.
Canada’s Job Rate 0.3 Points Lower Than Last Year
The job vacancy rate, unfilled and advertised jobs as a share of total workers, is also grinding lower. The rate shed another 0.1 points to 2.6% in November, and sits 0.3 points lower than a year prior. It’s an unusually weak level, but a provincial breakdown reveals some provinces are doing worse than others.
Canadian Job Vacancy By Province: Alberta & Saskatchewan Lead, Ontario Falls To Nunavut Levels
Canadian job vacancy rate by provinces.
Source: StatCan; Better Dwelling.
Half of Canada’s provinces saw the job vacancy rate actually rise, indicating hiring improved in November. Newfoundland led growth by adding 0.6 ppt to its average, the largest jump in the month. The province’s 2.5% vacancy rate was still below average, coming in the third weakest of any province.
It was followed by monthly growth in Saskatchewan (+0.5 ppts) and Alberta (+0.3 ppts). The vacancy rate for both provinces was also tied for the highest in the country at 3.0%. All Prairie provinces managed to sit above the national average.
Quebec, BC, and Ontario provided most of the drag. The largest drop was in Quebec (-0.5 ppts), followed by BC (-0.4 ppts), with the rate in both provinces tied with the 2.6% national rate.
Ontario’s job market is so cold it’s starting to resemble the Canadian Arctic. While Ontario (-0.1 points) is in line with the national move, its job vacancy rate of 2.3% is the lowest of any province. It’s tied with Nunavut, and falls below the Arctic territory when looking at the seasonally adjusted rate (NU 2.5% vs ON 2.3%). Ontario went from being the hub of the national economy to sharing the growth outlook of a remote Arctic territory.
Canadian job vacancies have been plunging, but the problem is more nuanced than headline data implies. Half of Canada’s provinces climbed, while just a few (large) provinces provided most of the drag at the national level. It’s not clear if those provinces holding up will continue to do so this year. The latest Bank of Canada (BoC) business survey reveals that more employers are planning job cuts than during the pandemic
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