It’s strange. It’s getting harder to get a job in Canada
But Canada has the highest number of job vacancies ever?
And that’s a good thing.
And yet, it’s taking longer and longer for Canadians to snag those jobs.
The average length of unemployment has now reached 19 months in Canada — the highest rate in five years.
That’s six months longer than it was in 2014.
The national vacancy rate stood at three per cent, meaning three out of every 100 jobs were unfilled. That’s up from 2.6 per cent in the same period a year earlier.
And a larger share of the unemployed are giving up looking for work, the survey found, with 38 per cent agreeing with the statement “I’ve completely given up looking for a job.” That’s up from 32 per cent last year, and similar to levels seen in 2014 and 2015, when the oil price crash caused unemployment to spike in oil producing areas.
So what’s going on?
What does it mean and how do you explain it?