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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

December 19, 2024
JOB VACANCIES, OCTOBER 2024

Monthly (October 2024 vs September 2024, seasonally adjusted)

Nova Scotia had 12,910 job vacancies in October 2024 with a vacancy rate of 2.7%. Canadian employers were actively recruiting for 513,160 positions in October with a vacancy rate of 2.9%. The national job vacancy rate edged down 0.1 percentage point in October 2024 with five provinces reporting lower vacancy rates from the previous month. The highest vacancy rates were reported in Manitoba, Saskatchewan, and British Columbia, while the lowest vacancy rate was reported in Newfoundland and Labrador.

When compared to September 2024, the number of job vacancies in Nova Scotia declined 5.7% (-780 jobs). National job vacancies declined 2.8% (-14,990 jobs). Job vacancies fell in six provinces with the fastest decline in Prince Edward Island. Four provinces reported higher vacancies compared to the previous month, with the fastest increase in Manitoba.

Year-over-year (October 2024 vs October 2023)

When compared to October 2023, the job vacancy rate in Nova Scotia declined 0.6 percentage points. Nationally, the job vacancy rate declined from 3.8% to 2.9%. All provinces reported lower job vacancy rates compared to one year ago. 

When compared to October 2023, the number of job vacancies in Nova Scotia declined 12.0% or 1,765 vacancies. National job vacancies declined 23.7% or 159,440 vacant jobs. All provinces saw declines in the number of vacancies over the twelve-month period ending in October. In percentage terms, Newfoundland and Labrador declined the most compared to October 2023, and Manitoba the least (followed closely by Nova Scotia).

Trend 

Nationally, job vacancy rates have trended downward after peaking in March-May 2022. In October 2024, the job vacancy rate was at its lowest level since October 2017. 

Nova Scotia's job vacancy rate peaked in the spring of 2022 and has also been on a downward trend. The Nova Scotia job vacancy rate has been below the national rate for most of this period. The October 2024 vacancy rate in Nova Scotia was at its lowest level since November 2020.

Nova Scotia's job vacancies peaked at 22,715 in June 2022 and have been trending down. Job vacancies have declined at a slower pace in 2024.

Canada job vacancy rate and job vacancies by industry, October 2024

Nationally, health care/social assistance, accommodation/food services, personal/repair services and agriculture/forestry/fishing had the highest job vacancy rates. The lowest vacancy rates were in education, utilities and finance/insurance.

Health care and social assistance had the highest number of vacancies at 121,510 in October 2024. Compared to October 2023, the number of vacancies declined in every industry.

 

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.

During the COVID-19 pandemic, data collection was suspended from April to October 2020. There remains a break in this data series.

Sources: Statistics Canada, Table 14-10-0432-01 Job vacancies, payroll employees, and job vacancy rate by provinces and territories, monthly, adjusted for seasonalityTable 14-10-0406-01 Job vacancies, payroll employees, and job vacancy rate by industry sector, monthly, adjusted for seasonality



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