However, employment increased by 0.9%
According to Statistics Canada, the number of Canadian job vacancies fell by 8.2%, or 78,600, in the fourth quarter for the second consecutive quarter to a total of 876,300. The national job vacancy rate declined by 4.9% in the fourth quarter of 2022.Job vacancies declined in 16 of 20 broad industrial sectors and seven of 10 broad occupational groups in the fourth quarter.
In addition, job vacancies declined in 20 of 69 economic regions. The largest decreases were in Laurentides, Quebec, at 28.8%, followed by Winnipeg, Manitoba, at 23.4%.
However, employment increased by 0.9% in the fourth quarter, the seventh consecutive quarterly increase. Employment has continued to increase in 2023, adding 150,000 jobs in January followed by little change in February with 22,000 jobs.
Canada’s unemployment rate was 5.1% in the fourth quarter, little changed from the third quarter and just above the record low of 4.9% reached in June and July of 2022.