High job vacancy rates for small business
There were approximately 295,000 unfilled full and part-time private sector jobs in Canada during the first quarter, according to the Canadian Federation of Independent Business (CFIB).
“While unfilled jobs may seem harmless, they represent missed opportunity for business and the economy.”
The highest vacancy rates (4.2 per cent) were found in businesses with fewer than 19 employees and the lowest rates (1.6 per cent) belonged to businesses with 500 or more employees.
Recent changes to the Temporary Foreign Worker (TFW) program could make it more difficult for smaller companies to find the staff they need.
“Smaller businesses structurally have higher vacancy rates,” said Mallet.
“The TFW program has been one way for these businesses to fill openings that they could not fill otherwise. Ironically, it was problems at larger firms that prompted changes to the program, yet it is smaller companies with legitimate challenges that will bear the brunt of the impacts.”
The Canadian construction industry holds the highest vacancy rate (3.6 per cent) out of all of the sectors, but it is declining.
The highest vacancy rate in Canada belongs to Saskatchewan (3.9 per cent) and Prince Edward Island has the lowest (1.5 per cent), Ontario sits in the middle of the pack at around 2.1 per cent.