According to the latest data from Statistics Canada, released on August 31, 2023, the employed residents of Canada experienced a 3.6% year-on-year increase in their average weekly earnings in June 2023.
Although there was an increase, the change was relatively modest, with average weekly earnings going up by just $4, from $1,200 in May to $1,204 in June.
During this period, the number of employees receiving pay and benefits from their employers saw a slight rise of 47,700 (+0.3%). However, the job vacancy trend continued to decline, with vacancies dropping by 8,900 (-1.2%) to a total of 753,400.
Average Weekly Earnings By Province
|Geography||Average Weekly Earnings||12-Month Change|
|Newfoundland and Labrador||$1,205.89||5.4%|
|Prince Edward Island||$1,004.76||4.2%|
Average Weekly Earnings By Sector
|Sector||June 2023||June 2022||Year-on-Year Change|
|Forestry, logging and support||1,425.18||1,318.25||8.1%|
|Mining, quarrying, and oil and gas extraction||2,289.96||2,231.72||2.6%|
|Transportation and warehousing||1,247.74||1,225.54||1.8%|
|Information and cultural industries||1,647.12||1,467.67||12.2%|
|Finance and insurance||1,584.30||1,575.31||0.6%|
|Real estate and rental and leasing||1,179.86||1,195.04||-1.3%|
|Professional, scientific and technical services||1,738.46||1,675.77||3.7%|
|Management of companies and enterprises||1,656.05||1,551.64||6.7%|
|Administrative and support, waste management and remediation services||1,014.33||986.12||2.9%|
|Health care and social assistance||1,061.48||1,032.94||2.8%|
|Arts, entertainment and recreation||738.38||690.93||6.9%|
|Accommodation and food services||488.03||471.34||3.5%|
|Other services (excluding public administration)||1,042.06||979.85||6.3%|
Decrease in Job Vacancies
In June, the quantity of available job positions continued its downward trend, experiencing a 1.2% decline from 762,300 in May to 753,400.
This increases the ongoing decrease in job openings since January, now totaling 108,500 fewer vacancies (-12.6%).
In comparison to the peak of 1,003,200 vacancies in job recorded in May 2022, there has been a substantial 24.9% drop, accounting for 249,900 fewer positions.
Notably, job openings in June 2023 reached their lowest point since May 2021, standing at 673,400.
Job Vacancies by Province
Quebec witnessed a notable drop in job opportunities, with a decrease of 14,700 (-7.6%) to 178,500 vacancies, marking the lowest level since March 2021 (176,400).
Consequently, the unemployment rate in the province surged by 19,700 individuals (+10.6%) to 205,900.
In contrast, Saskatchewan saw an uptick of 4,900 job openings, bringing the total to 26,300. New Brunswick experienced an increase of 1,800 job positions, reaching 14,000, while Prince Edward Island added 1,000 positions, totaling 3,500.
Meanwhile, the remaining six provinces reported minimal changes in job availability.
Ontario, as the largest province in Canada, consistently maintains the highest number of job vacancies across various sectors, with Quebec, British Columbia, Alberta, Saskatchewan, and the Atlantic provinces following suit.
|Province||Job Vacancies||Job Vacancy Rate|
|Newfoundland and Labrador||6,900||3.6%|
|Prince Edward Island||3,900||5.2%|
Job Vacancies by Sector
The finance and insurance industry experienced the most significant decline in job vacancies, with a reduction of 8,800 positions (-30.2%).
Following closely behind were the accommodation and food services sector, which saw a decrease of 7,600 vacancies (-7.5%), and the construction industry, with a drop of 6,900 job openings (-10%).
However, payroll employment saw its most significant monthly increase in the healthcare and social assistance sector, with an increase of 25,100 jobs, representing a growth rate of 9.2%, rebounding from a decline in May.
In the retail trade industry, the count of job vacancies rose by 5,700 jobs in June, marking a 7.2% increase and partially offsetting the declines of 5,800 (-6.3%) in April and 6,800 (-7.8%) in May.
Furthermore, the mining, quarrying, and oil and gas extraction sector experienced an uptick of 2,100 job openings in June, bringing the total to 10,400 positions.
|Job Sector||Job Vacancies||Job Vacancy Rate|
|Agriculture, forestry, fishing and hunting||10,800||4.3%|
|Mining, quarrying, and oil and gas extraction||10,400||4.6%|
|Transportation and warehousing||40,700||4.6%|
|Information and cultural industries||10,700||2.8%|
|Finance and insurance||20,500||2.4%|
|Real estate and rental and leasing||9,000||3.0%|
|Professional, scientific and technical services||44,900||3.6%|
|Management of companies and enterprises||3,900||3.0%|
|Administrative and support, waste management and remediation services||42,100||4.8%|
|Health care and social assistance||147,100||6.1%|
|Arts, entertainment and recreation||11,800||3.6%|
|Accommodation and food services||92,500||6.6%|
|Other services (excluding public administration)||34,900||5.9%|
Unemployment Rate In Canada
As of July 2023, Canada’s unemployment rate stands at 5.5%, a slight increase from 5% in April 2023, according to the most recent data from Statistics Canada.
Job Vacancy Rate In Canada
Canada’s job vacancy rate is currently 4.2%, which is calculated as the ratio of vacant job positions to total labor demand (the sum of filled and vacant job positions).
In conclusion, understanding the average weekly earnings and job vacancies in Canada is essential for both job seekers and businesses.
While earnings have seen a year-on-year increase, job vacancies have been on a declining trend. Keep an eye on these trends to make informed decisions about your career or workforce planning.