“Latest data from Statistics Canada suggests employers are finding it increasingly difficult to find qualified workers,” points out the National Bank of Canada’s Krishen Rangasamy.
Key quotes
“The job vacancy rate ─ the number of job vacancies as a share of the sum of all occupied and vacant jobs ─ jumped in the second quarter to 3.4%, the highest on records. And that despite little change in the jobless rate.”
“So much so that the Beveridge curve, the relationship between the jobless rate and the job vacancy rate, is now moving away from the origin. That typically suggests the labour market is becoming less efficient via a worsening of the skills mismatch problem.”
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