The growing economy combined with a talent shortage has created a labour drought, equivalent to a shortage of 361,700 jobs.
The Canadian Federation of Independent Business (CFIB) has announced that this is the highest number of unfilled private sector jobs ever recorded in Canada – according to the Q3 2017 Help Wanted report.
“Labour shortages are again becoming a major hindrance to businesses across the country, especially small firms,” said Ted Mallett, Chief Economist at CFIB.
“We need government to take action, to find solutions for chronic shortages that inhibit a small business’ ability to take on new contracts, expand and innovate.”
The corresponding vacancy rate has hiked up to 2.8% – the highest point since the 2008 recession.
Organizations in Canada’s most populous provinces are also having a hard time findings talent. British Columbia has the highest vacancy rate (3.4%) followed by Quebec (3.1%) and Ontario (three percent).
In terms of sector, retail (50,000 jobs), hospitality (45,900 jobs) and construction (38,000 jobs) industries are experiencing the biggest labour shortages.