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April 12, 2018JOB VACANCIES AND WAGES, 2017Q4 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 2.5 per cent in the fourth quarter of 2017, representing 10,080 job vacancies. This is a higher vacancy rate than the 2.1 per cent in the fourth quarter of 2016. The national job vacancy rate was 2.9 per cent, up from 2.4 per cent in the fourth quarter of 2016. The average wage offered for a vacant position in 2017Q4 was $17.50 per hour in Nova Scotia, up from $16.60 in 2016Q4. The national average increased by $0.50 to $20.10 in year over year terms.
Compared to the fourth quarter of 2016, the vacancy rate increased in all provinces. The largest increase was in Quebec (+0.8 percentage points), followed by British Columbia (+0.6 percentage points). Quebec, Prince Edward Island and Manitoba saw the largest increases (in percentage terms) in the number of job vacancies in the fourth quarter of 2017 compared to the same period in 2016. The average wage offered for vacant positions rose in all provinces except Newfoundland and Labrador, Prince Edward Island and Ontario where it declined. The largest increase compared to 2016Q4 was in Saskatchewan (+$2.35).
Among Nova Scotia's economic regions, the job vacancy rates were highest in Halifax and lowest in Cape Breton. The average wages offered for vacant positions were highest in Halifax and lowest in the Annapolis Valley.
Across sectors, Nova Scotia's job vacancy rates were lower than the national average in every category except transportation, finance and insurance, health care and social assistance, and accommodation and food services in the fourth quarter of 2017. Compared to the national average, the wages offered for vacant positions in Nova Scotia were lower for every category except in information and cultural services, educational services, and public administration. Note that suppressed data is labeled as 'N/A'.
Of the 10,080 job vacancies reported in Nova Scotia during the fourth quarter of 2017, 41.6 per cent were in sales and service occupations. The wages offered for vacant Nova Scotia occupations were lower than the national average in every occupational category except management, which was $0.05 higher in Nova Scotia than the national average.
Over half of the vacant positions in Nova Scotia during the fourth quarter of 2017 required 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 required less than one year of experience. Those vacant positions also offered lower wages compared to those with higher experience requirements. Vacancies requiring 8 or more years of experience represented only 120 vacancies in the fourth quarter, offering the highest average wage.
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
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