Payroll employment increased in November 2022, indicating a busy hiring market.
Payroll employment (the number of employees getting pay or benefits from their employer) grew in 10 of 15 industries in November 2022, indicating a healthy hiring climate and a return to pre-COVID economic production in Canada.
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As a result, several industries experienced fewer job postings, as companies were better equipped to hire to fill gaps in the face of projected labour shortages. Overall payroll employment grew by 7,100 jobs, as expansions in professional, scientific, and technological services, government, and banking and insurance were offset by considerable declines in retail commerce.
Total employment openings fell by 20,700 positions in November 2022, resulting in 850,300 vacancies across Canada. This reflects a reduction of 151,900 job postings since the all-time high of 1 million in May 2022. This might be viewed as an indication that economic production of products and services is still recovering to pre-pandemic levels.
An rise in payroll employment is (more specifically) a good indicator that businesses are recruiting and have a need for more workers—a measure of economic growth since more individuals may contribute to the economy through higher employment. In this regard, it may be useful for newcomers to discover which industries are boosting payroll employment presently, in order to identify which types of organisations are seeing booms in hiring in Canada.
The sectors which recorded the biggest gains in payroll employment in November included:
Professional scientific and technical services (+5,600 positions);
Public administration (+4,800 positions);
Finance and insurance (+4,700 positions); and
Construction (+4,300 positions).
Consistent job Openings
Despite considerable increase in payroll employment in November 2022, Canada nevertheless had a large number of job openings in a variety of industries.
Healthcare and social assistance (131,800 openings)—Finding additional healthcare employees is a continuous difficulty for Canada, as seen by the large number of vacancies. Despite a decrease of 19,300 jobs, the total number of job vacancies in the space remains elevated, up nearly 45% from March 2020; this need for workers in the space is further reflected in policy changes implemented by the Canadian government, such as targeting more streamlined accreditation for foreign-educated healthcare professionals and reducing immigration.
Construction (79,000 job openings)— It’s worth noting the recurring openings in the building industry. Despite robust improvements in payroll employment in November, job openings in this sector remain high. This might signal both a growth in corporate productivity and an ongoing demand for people in the space.
Indeed, openings in the construction industry remained practically constant in November 2021 (73,900), showing that this is another area where Canada has a sustained demand for workers, particularly as the economy recovers. Again, policy changes, such as Canada’s recent commitment to assisting non-status construction workers, signal the value of such labour to the country’s economy.
Professional, scientific, and technological services (52,000 openings)—Like the construction industry, the Professional, scientific, and technical sector had strong growth in payroll employment but still faces an increase in the number of job vacancies. Again, this demonstrates both robust hiring and ongoing need for people in the area in Canada. Indeed, the industry has had positive job growth since October of 2020. In the face of such a large number of job openings, this is a clear signal of long-term need for these people in Canada.
Because Canadian demographics cannot now sustain filling current employment gaps, immigration will be critical in addressing these labour shortages. Following the passage of Bill C-19 in 2022, the Honorable Sean Fraser (as Minister of Immigration) will be able to form groups in the federal Express Entry pool (possibly based on criteria such as candidates’ occupations, educations, or language ability) and issue invitations to apply (ITAs) to these individuals in order to more directly address Canada’s economic and social needs. Professions with frequent job openings have a good possibility of being targeted in these draws.