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April 13, 2017JOB VACANCIES AND WAGES, 2016Q4 Statistics Canada has released its quarterly job vacancy and wage survey (unadjusted for seasonality). This data provides insight into what portion of jobs in a particular region, sector or occupation are vacant. It also provides information on the wages offered and specific requirements for each type of vacant job. A higher job vacancy rate indicates a tighter labour market where it is more difficult for employers to find suitable candidates for the positions offered. A lower job vacancy rate signals labour market slack and potentially more job seekers competing for each vacant position.
Nova Scotia's job vacancy rate was 2.1 per cent in the fourth quarter of 2016, representing 8,130 job vacancies. This is a lower vacancy than the 2.3 per cent in the fourth quarter of 2015. The national job vacancy rate was 2.4 per cent, with lower vacancy rates in all provinces, except Manitoba, compared to the third quarter of 2015. The average wage offered for a vacant position in 2016Q4 was $16.90 per hour in Nova Scotia, down from $17.35 in 2015Q4, while the national average increased by $0.75 to $19.70.
Compared to the fourth quarter of 2015, the vacancy rate declined in all provinces except Quebec, Ontario, and British Columbia. The largest declines were in Newfoundland and Labrador(-0.6 percentage point lower rate, -28.7% fewer vacancies), Prince Edward Island (-0.5 percentage point lower rate, -26.7% fewer vacancies), and Saskatchewan (-0.5 percentage point lower rate, -23.2% fewer vacancies). The average wage offered for vacant positions rose in seven provinces with the largest increases in Prince Edward Island and Newfoundland and Labrador.
On an annual basis, job vacancies were lower in seven provinces with the largest declines in Saskatchewan and Alberta. Job vacancies increased in Quebec, Ontario and British Columbia. There were 17.6 per cent fewer job vacancies in Nova Scotia in 2016. The job vacancy rate declined from 2.7 per cent in 2015 to 2.2 per cent in 2016 in Nova Scotia. The average wage offered increased in all provinces in 2016 with an increase of 4.7 per cent in Canada and 2.8 per cent in Nova Scotia.
Among Nova Scotia's economic regions in 2016Q4, the vacancy rates was highest and Halifax and lowest in Cape Breton. The average wages offered for vacant positions were highest in Halifax and North Shore and lowest in Annapolis Valley.
Across sectors, Nova Scotia's job vacancy rates were typically lower than the national average in the fourth quarter of 2016. However, there were some exceptions: Nova Scotia reported higher vacancy rates for agriculture, forestry and fishing, health care and social assistance, other services, and public administration. The wages offered for vacant positions in Nova Scotia are mostly lower than the wages offered through the rest of the country, with the exception of management of companies.
Of the 8,130 job vacancies reported in Nova Scotia during the fourth quarter, 38.8 per cent were in sales and service occupations. The next largest occupations for which there were vacancies were trades/transport/equipment operators and health. The wages offered for vacant Nova Scotia occupations were lower than the national average in every occupational category.
Over half of the vacant positions in Nova Scotia during 2016Q4 required only high school or lower levels of education. The wages offered for these positions were lower than for those requiring more education. The highest wages were offered for those with university education beyond a bachelor's level, which had the smallest number of vacancies.
Most vacant positions had low experience requirements. Those vacant positions also offered lower wages than those with higher experience requirements. Although the highest wages were offered for those occupations requiring over 8 years' of experience, there were a small number of such positions vacant.
Note: The data referenced above is from the quarterly Job Vacancy and Wages survey (JVWS). Statistics Canada also publishes monthly job vacancy data in from the Job Vacancy Statistics (JVS) component of the Survey of Payroll Employment and Hours. Due to differences in the target population and sample sizes, the job vacancies reported in the JVWS tend to be higher than those reported in the JVS.
Statistics Canada: CANSIM tables 285-0001, 285-0002, 285-0003, 285-0004
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