Job vacancies dip slightly, but remain elevated
While the vacancy rate has been on a downward trend, it is still a long way from where it was before COVID
By Rob Roach, ATB Economics 29 May 2023 1 min read
The job vacancy rate* in Alberta ticked down slightly in March, but remained well above its pre-pandemic levels.
According to the latest results from the Survey of Employment, Payrolls and Hours, the seasonally-adjusted job vacancy rate in Alberta went from 4.4% in February to 4.3% in March. The rate peaked in Alberta in April 2022 at 5.3%.
The provincial rate averaged 2.5% between January 2016 and December 2019 and never rose about 3.0%.
The actual number of vacancies also peaked in April 2022 at just 108,000 and was down to about 91,000 in March 2023.
The national rate went in the same direction, falling from 4.7% in February to 4.5% in March. The national rate has hit 5.7% four times since the pandemic began compared to an average of 2.9% between 2016 and 2019.
The number of vacancies in Canada peaked in May 2022 at over a million, but was down to about 815,000 in March 2023.
Prince Edward Island (5.3%), British Columbia (5.2%) and Quebec (5.0%) had the highest job vacancy rates in March while Newfoundland and Labrador (3.1%)had the lowest.
While vacancy rates have been on a downward trend, they are still a long way from where they were before COVID and the labour market remains relatively strong.
*The job vacancy rate corresponds to the number of vacant positions as a proportion of total labour demand (the sum of filled and vacant positions).
Answer to the previous trivia question: John Alexander McDougall (May 20, 1854 – December 17, 1928) became the first president of the Edmonton Board of Trade in 1889.
Today’s trivia question: Including today’s, how many provincial elections have been held in Alberta?