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January 25, 2024JOB VACANCIES, NOVEMBER 2023 Monthly (November 2023 vs October 2023, seasonally adjusted)
Nova Scotia had 13,080 job vacancies in November 2023 with a vacancy rate of 2.8%. Nova Scotia job vacancies were at their lowest level since December 2020.
Canadian employers were actively recruiting for 653,005 positions in November with a vacancy rate of 3.7%. National job vacancies rose in November though continue to trend downward. The highest vacancy rate was reported in British Columbia while the lowest vacancy rate was reported in Prince Edward Island.
Job vacancy rates declined in five provinces, including Nova Scotia. The national job vacancy rate rose in November 2023, with increases in two provinces and three provinces that were unchanged in November.
When compared to October 2023, the number of job vacancies in Nova Scotia declined 6.8% or 955 jobs. National job vacancies rose 2.2% or 14,130 jobs. Over the same period, vacancies decreased in seven provinces led by Prince Edward Island. New Brunswick, Ontario and Saskatchewan reported higher vacancies compared to October.
Year-over-year (November 2023 vs November 2022)
When compared to November 2022, the job vacancy rate in Nova Scotia declined 2.0 percentage points. Nationally, job vacancy rate declined from 4.9% to 3.7%. Compared to one year earlier, the job vacancy rate declined in all provinces.
When compared to November 2022, the number of job vacancies in Nova Scotia declined 39.3% or 8,475 vacancies. National job vacancies declined 25.2% or 219,600 vacant jobs. All provinces saw declines in the number of vacancies over the twelve month period ending in November. In percentage terms, Prince Edward Island and Nova Scotia declined the most.
Trend
Nationally, job vacancy rates peaked in March-May 2022 and steadily declined through October. The national job vacancy rate increased in November 2023 but remains low. Nova Scotia's job vacancy rates trended up for most of 2021 and early 2022 before declining through early 2023. The number of job vacancies in Nova Scotia peaked in May 2022 at 23,105 and has trended downward since, reaching 13,080 in November 2023.
Canada job vacancy rate and job vacancies by industry, November 2023
Nationally, the accommodation and food services (6.0%), health care and social assistance (5.2%), and personal repair services (4.9%) industries had the highest job vacancy rates.
The next highest job vacancy rates in Canada were reported in construction, transportation, administration, support and waste management (including call centres), and agriculture, forestry and fishing. The lowest vacancy rates were in education, utilities and public administration.
Health care and social assistance had the highest number of vacancies at 127,130 in November. The number of vacancies declined in every reported industry except utilities compared to the same month a year ago.
Notes: The job vacancy rate is the percentage of job positions (both filled and vacant) that are vacant. 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.
Information on monthly job vacancies will continue in future Statistics Canada releases, and a more detailed analysis will be released with quarterly estimates from the Job Vacancy and Wage Survey.
Sources: Statistics Canada, Table 14-10-0432-01 Job vacancies, payroll employees, and job vacancy rate by provinces and territories, monthly, adjusted for seasonality, Table 14-10-0406-01 Job vacancies, payroll employees, and job vacancy rate by industry sector, monthly, adjusted for seasonality
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