Job vacancies, third quarter 2024

Job vacancies decline in the third quarter, but at a slower pace

Job vacancies fell by 31,900 (-5.5%) to 546,100 in the third quarter, marking the ninth consecutive quarterly decline. However, the drop in the third quarter was smaller compared with the decline recorded in the second quarter of 2024 (-63,200; -9.9%).

In the third quarter, job vacancies declined for both permanent (-27,800; -5.9%) and temporary (-4,100; -4.0%) positions, and among both full-time (-19,300; -4.5%) and part-time (-12,600; -8.5%) positions.

Meanwhile, total labour demand (the sum of filled and vacant positions) was little changed for the fourth consecutive quarter. On a year-over-year basis, total labour demand was down by 0.1% in the third quarter. This follows year-over-year growth of 0.8% in the third quarter of 2023, and 6.3% in the third quarter of 2022.

The job vacancy rate—which corresponds to the number of vacant positions as a proportion of total labour demand—decreased 0.1 percentage points to 3.1% in the third quarter of 2024, marking the ninth consecutive quarterly decline from a record high of 5.6% in the second quarter of 2022.

The unemployment-to-job vacancy ratio—the number of unemployed persons per job vacancy—continued a steady increase to 2.6 in the third quarter of 2024, up from 2.4 in the second quarter, and from 2.0 in the first quarter. The increase in the unemployment-to-job vacancy ratio from the third quarter of 2022 reflected both a decrease in job vacancies (-410,500; -43.0%) and an increase in the number of unemployed persons (+374,200; +35.5%, according to the Labour Force Survey). The unemployment-to-job vacancy ratio excludes the territories for consistency with the available Labour Force Survey data.

Chart 1: Job vacancies and job vacancy rate continue their downward trend

Note: Total labour demand is equal to the sum of payroll employment and job vacancies. Job Vacancy and Wage Survey data collection was suspended for the second and third quarters of 2020. Therefore, data for these reference periods are not available. Data are seasonally adjusted.

Source: Job Vacancy and Wage Survey (5217), table 14-10-0400-01.

Job vacancies down in four broad occupational groups

In the third quarter of 2024, job vacancies fell in 4 of the 10 broad occupational groups, led by sales and service occupations (-12,500; -7.4%), health occupations (-8,200; -9.5%), trades, transport and equipment operators and related occupations (-6,900; -6.6%), and occupations in manufacturing and utilities (-3,100; -16.1%). Legislative and senior management occupations (+200; +16.2%) was the only broad occupational group to see an increase in job vacancies in the third quarter. Vacancies were little changed in the remaining five broad occupational groups.

Sales and service occupations continue to drive decline in overall vacancies

Job vacancies in sales and service occupations declined for the eighth consecutive quarter, falling by 12,500 (-7.4%) to 155,300 in the third quarter. Despite the decline, sales and service occupations continued to represent the largest share of vacancies among all 10 broad occupational groups, accounting for nearly 3 in 10 (28.4%) vacancies in the third quarter.

Year over year, job vacancies in sales and service occupations declined by 71,400 (-29.8%) in the third quarter. Within this occupational group, food counter attendants, kitchen helpers and related support occupations (-17,300 to 30,100), retail salespersons and visual merchandisers (-10,100 to 20,000), cooks (-6,000 to 13,800), and light duty cleaners (-5,100 to 9,000) saw the largest year-over-year drops in vacancies in the third quarter (not seasonally adjusted).

Trades, transport and equipment operators and related occupations hits ninth consecutive quarterly decline in job vacancies

In the third quarter, job vacancies decreased by 6,900 (-6.6%) to 98,400 in trades, transport and equipment operators and related occupations. This was the ninth consecutive quarterly decline observed since the record high (195,000) reached in the second quarter of 2022.

On a year-over-year basis, the number of vacant positions in trades, transport and equipment operators and related occupations was down by 43,100 (-28.5%) in the third quarter of 2024. The largest decreases were recorded for transport truck drivers (-7,000 to 13,200), construction trades helpers and labourers (-6,000 to 12,300), carpenters (-4,400 to 4,600), and automotive service technicians, truck and bus mechanics and mechanical repairers (-3,300 to 6,300) (not seasonally adjusted).

Job vacancies in health occupations decline two quarters in a row

Job vacancies in health occupations fell by 8,200 (-9.5%) to 78,600 in the third quarter, following a decrease of 5,400 (-5.8%) in the second quarter. This was the second consecutive quarterly decline after six consecutive quarters of little change since the peak in the third quarter of 2022, when job vacancies in health occupations reached 97,400.

Year over year, vacancies in health occupations were down by 13,900 (-14.9%) in the third quarter of 2024. Among health occupations, registered nurses and registered psychiatric nurses (-6,400 to 23,900), nurse aides, orderlies and patient service associates (-3,500 to 17,200), and licensed practical nurses (-2,500 to 10,600) accounted for the largest year-over-year decreases. These three occupational groupings together accounted for nearly two-thirds (64.8%) of the total vacancies in health occupations (not seasonally adjusted).

Average offered hourly wage grows at a faster pace in the third quarter

On a year-over-year basis, the average offered hourly wage grew at a faster pace in the third quarter (+7.6% to $27.55) compared with the second quarter (+6.8% to $26.80) and the first quarter (+7.3% to $27.25). In comparison, year-over-year average hourly wages of all employees (from the Labour Force Survey) grew 5.0% in the third quarter (data used in this section are not seasonally adjusted).

These wage increases were due in part to a shift in the relative composition of job vacancies from occupations offering lower wages to those offering higher wages. Using a method that holds the composition of job vacancies by occupation at the third quarter of 2023, average offered hourly wages grew by 5.0% on a year-over-year basis in the third quarter of 2024, up from 4.2% in the second quarter.

Map 1 : Average offered hourly wage and average hourly wage by province and territory, third quarter of 2024

Note: Data are not seasonally adjusted. The average offered hourly wage (JVWS) excludes overtime, tips, commissions and bonuses. Average hourly wages (LFS) include tips and commissions. The offered wage may be different from the actual wage paid once the position is filled. All wages are before taxes and deductions. LFS does not report average hourly wages for the territories.

Source: Job Vacancy and Wage Survey (JVWS) (5217), table 14-10-0444-01; Labour Force Survey (LFS) (3701), table 14-10-00063-01.

Largest decline in vacancies for positions requiring a high school diploma or less

Compared with a year earlier, there were fewer vacant positions for all educational levels sought by employers in the third quarter, with positions requiring a high school diploma or less (-118,900; -28.7%) recording the largest decline. More than half (57.9%) of the decline in vacant positions requiring a high school diploma or less were accounted for by sales and service occupations (-68,800; -33.0%) (not seasonally adjusted).

Chart 2: Positions requiring high school diploma or less continue to account for the largest share of the total decline in job vacancies

Note: Data are not seasonally adjusted.

Source: Job Vacancy and Wage Survey (5217), table 14-10-0443-01; Labour Force Survey (3701), table 14-10-0019-01.

Fewer job vacancies in 20 of 69 economic regions

In the third quarter, job vacancies decreased in Ontario (-16,500 to 184,400), Quebec (-5,900 to 121,300), Saskatchewan (-1,900 to 17,900), Manitoba (-1,100 to 21,200), Nova Scotia (-1,000 to 14,600), Newfoundland and Labrador (-500 to 5,300), the Northwest Territories (-300 to 1,100), and Yukon (-200 to 800). Job vacancies held steady in the other provinces and in Nunavut.

At the regional level, job vacancies were down in 20 of 69 economic regions in the third quarter. The largest declines were concentrated in Ontario, including Toronto (-5,900 to 91,500); Kitchener–Waterloo–Barrie (-3,800 to 16,300); and Hamilton–Niagara Peninsula (-2,900 to 16,100). Increases in job vacancies were recorded in three regions, all in Quebec: Laval (+700 to 4,100); Côte-Nord and Nord-du-Québec (+600 to 3,000); and Gaspésie–Îles-de-la-Madeleine (+300 to 1,100). Vacancies were little changed in the other 46 economic regions.

Table 1: The 10 occupations with the largest annual decreases in job vacancies and their average offered hourly wage, third quarter of 2024

Table 2: The 10 occupations with the largest annual increases in job vacancies and their average offered hourly wage, third quarter of 2024