ICYMI: Canadian job vacancies climb to fresh record, signalling inflation pressure — via financialpost Canada jobs work inflation
reported July 28 that there were 1,005,700 unfilled positions at the beginning of May, up slightly from 1,001,100 in April, the previous record. The May number was 42 per cent higher than a year earlier.
“When it comes to inflation, one of the ways the economy sort of feeds into prices is that strong demand for workers creates the conditions for stronger wage growth,” said Brendon Bernard, senior economist at Indeed, the hiring site owned by Japan’s Recruit Holdings Co. Ltd. “That cost of labour starts influencing the pace of .”Article content
Vacancies in accommodation and food services remained the highest, with 161,100 vacant positions in May, a slight change from the previous month. The vacancy rate was 11.9 per cent, representing the thirteenth consecutive month that hotels and restaurants reported the highest percentage of unfilled positions among the total jobs — filled and unfilled — available in the industry.Article content
Other sectors, including retail trade, manufacturing, construction, and transportation and warehousing, saw little change in May. Pandemic-induced job vacancies in health care and social assistance increased 14.5 per cent to 143,400 in May, offsetting the previous month’s decline.
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