Job vacancies decrease for the fifth consecutive quarter
Job vacancies fell by 69,900 (-9.0%) to 706,100 in the third quarter, marking the fifth straight quarterly decline from the record high reached in the second quarter of 2022 (990,900).
Meanwhile, payroll employment rose by 117,600 (+0.7%) in the third quarter of 2023, the 10th consecutive quarterly increase. However, payroll employment has increased at a slower pace than the population aged 15 years and older (from the Labour Force Survey) since the fourth quarter of 2022. In the third quarter of 2023, the population aged 15 years and older rose by 261,100 (+0.8%).
The quarter-over-quarter growth rate in total labour demand (the sum of filled and vacant positions) was 0.3% in the third quarter, down from 1.0% 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 to 3.9% in the third quarter of 2023, down from 4.3% in the previous quarter. This was the fifth consecutive quarterly decline and the lowest rate since the first quarter of 2021 (3.8%).
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