The number of unfilled positions fell 26,000 to 759,000 in May, the lowest in two years. That’s down nearly a quarter from a peak of 1 million in the same month last year, Statistics Canada reported Thursday in Ottawa.
The data suggest businesses are having an easier time finding workers as the economy slows and higher interest rates take hold. A continued decrease in the number of unfilled positions typically coincides with slowing demand for labour, though record immigration may also be helping to ease pressures.
Policymakers at the Bank of Canada are watching for signs that Canada’s tight labour market is re-balancing, and have cited a decrease in vacant positions as evidence of cooling. Falling vacancies are also a key metric for achieving a “soft-landing” for the economy — getting inflation back to the 2 per cent target with fewer actual job losses than in past downturns.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canada Goose launches second-hand, trade-in program in Canada - BNN BloombergYour next Canada Goose coat might be on its second life by the time it gets to you.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Bank of Canada mindful of not overdoing rate hikes, summary of deliberations reveals - BNN BloombergThe Bank of Canada says it's trying to not raise interest rates more than it has to, as members of the governing council are mindful of the risks associated with raising rates too much.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Canada's immigration boom could come at a cost: TD report - BNN BloombergCanada is pushing for record immigration as the country deals with a labour crunch and an aging population, but a new report from TD Bank suggests there may be unintended consequences if economic and social infrastructure growth does not keep pace.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Imperial Oil spill hurts flock of geese near oil-sands site in Canada - BNN BloombergImperial Oil Ltd. spilled crude from its Mihihkan plant at the Cold Lake oil-sands site, contaminating a flock of geese in the latest environmental mishap at the company’s facilities.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Calgary clinic charging membership fees runs contrary to Canada Health Act: Health Canada | CBC NewsHealth Canada says it has written to Alberta officials to inform them that the ability for patients 'to purchase preferential access' at a Calgary clinic runs contrary to the Canada Health Act.
Source: CBCNews - 🏆 2. / 99 Read more »
Canada vs. Ireland: Live updates of Canada’s second Women’s World Cup matchCanada’s second game of the Women’s WorldCup2023 is today (July 26) at 8 a.m. ET. The Canadian squad will be up against Ireland in Perth. Follow for live updates 👇 paulattfield: With a rather deflating opening 90 minutes under their belts, the Canadian women’s national team members know the real work – and the accompanying jeopardy – begins today.
Source: globeandmail - 🏆 5. / 92 Read more »