The “mismatch” between Canada’s labour demand and supply is hitting the most pandemic-impacted sectors particularly hard, a phenomenon that TD Bank Group experts say is likely to push wage growth higher in those sectors.
That job vacancy number is significant, TD economists Sri Thanabalasingam, Uthman Adepoju and James Marple wrote in a Wednesday note. “Based on the relationship between job vacancies and unemployment that existed prior to the pandemic, the job vacancy rate in July would be consistent with an unemployment rate roughly half of what it is today.”Article content
Wage growth has stayed “relatively subdued” even as concerns of labour shortages have reached a fever pitch, but “fchoice but to increase pay to attract new workers,” they said. The accommodation and food services sector is making an “outsized contribution” to market imbalances, the TD economists wrote. That’s followed by the business, building and other supports sector and the finance and insurance industry, which has seen significant labour demand growth thanks to real estate and financial market activity in the pandemic, but may be suffering from a shortage of available workers with the right skillsets.
So many unemployable people make up the unemployment numbers.
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.
Canopy Growth has deal to buy leading gummy maker if U.S. makes pot legalCanadian companies are looking for ways to get in on the larger, high\u002Dgrowth U.S. market
Source: nationalpost - 🏆 10. / 80 Read more »
Incoming commander of Canadian army faces sexual misconduct investigationLieutenant-General Trevor Cadieu’s appointment postponed amid probe into ‘historical allegations’ Is there any male in the Canadian Armed Forces upper echelon who has lead a life that would not lead to sexual harrassment charges Perhaps they should consider a female, jus sayyin No wonder! Women complained and no one did a thing. With this attitude there is probably a lot of woman more qualified for the job than these misogynistic men. Choose the right woman for the job. 🚩🚩🚩🚩🚩
Source: globeandmail - 🏆 5. / 92 Read more »
Irving says refusal to get vaccinated about ‘what’s best for me’Kyrie Irving says he’s not retiring, doesn’t want to surrender half his salary, but still won’t get COVID-19 vaccine lol Ok. No shit.
Source: globeandmail - 🏆 5. / 92 Read more »
Unsupported 'sickout' claims take flight amid Southwest woesWhen Southwest Airlines cancelled more than 2,000 flights over the weekend, citing bad weather and air traffic control issues, unsupported claims blaming vaccine mandates began taking off. ^ Fake news warning End of time and qiyamah signs, Imam Al-Mahdi will come from the east! Recently a man named Muhammad Qasim and his divine dreams about the rise of Islam are getting famous on social media. Many people are claiming that he may be the Mahdi. What do you think
Source: CTVNews - 🏆 1. / 99 Read more »
Chinese property firms suffer new credit rating downgrades amid Evergrande crisisRating agency S&P Global delivered fresh downgrades to two of the Chinese property sector’s bigger firms and warned it could cut their ratings further
Source: globeandmail - 🏆 5. / 92 Read more »