July 13, 2017JOB VACANCIES AND WAGES, 2017Q1 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 1.9 per cent in the first quarter of 2017, representing 7,320 job vacancies. This is a lower vacancy rate than the 2.1 per cent in the first quarter of 2016. The national job vacancy rate was 2.5 per cent. The average wage offered for a vacant position in 2017Q1 was $17.20 per hour in Nova Scotia, down from $17.85 in 2016Q1, while the national average increased by $0.55 to $20.40.
Compared to the first quarter of 2016, the vacancy rate increased in all provinces except Newfoundland and Labrador, Nova Scotia, and Saskatchewan. The largest increase was in Prince Edward Island (+46.2 per cent), followed by Quebec, Ontario, and New Brunswick. The average wage offered for vacant positions rose in seven provinces with the largest increases in Saskatchewan and Alberta.
Among Nova Scotia's economic regions in 2017Q1, the job vacancy rates were highest in Halifax and lowest in Cape Breton. The average wages offered for vacant positions were highest in the North Shore and Cape Breton and lowest in Annapolis Valley.
Across sectors, Nova Scotia's job vacancy rates were lower than the national average in every category for which there were data in the first quarter of 2017. 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 arts, entertainment, and recreation and other services.
Of the 7,320 job vacancies reported in Nova Scotia during the first quarter, 34.7 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 2017Q1 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.
Statistics Canada note: With the July release of job vacancy data for the first quarter of 2017, the quarterly data were revised back to the beginning of the series. As part of the revision, the estimates were calibrated on the revised employment totals from the Survey of Employment, Payrolls and Hours first released on March 31 and the occupational classification was updated to the 2016 National Occupational Classification (NOC).
JVWS data are not seasonally adjusted. Therefore, quarter-to-quarter comparisons should be interpreted with caution as they may reflect seasonal movements.
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