The good news is that recovery is on the horizon… though maybe not as quickly as we would all like. According to the Financial Post, the short-term surge in job postings seen in June and July will even out and slow down, hopefully resulting in a normal job market as of 2022.

Signs of a Recovering Canadian Job Market

1. Part-Time Job Recovery

Statistics Canada has reported that as of July 2020, part-time job postings have increased by 11.3%. CoVID-19 caused many industries reliant on part-time employees to close down or significantly reduce operations. This meant that the largest job losses were part-time (or gig) jobs.

Most companies relying heavily on part-time workers include retail and hospitality. As shops and restaurants slowly reopen, the job market will slowly recover.

2. Retail is Going Strong

CTV reported that retail sales are steadily increasing, and will soon return to pre-CoVID numbers. This occurred after an almost 20% increase in retail sales in May.

E-Commerce sales are doing even better – reporting a 112.7% increase from 2019. This makes sense since many shoppers have relied heavily on online shopping and delivery for their daily needs. Social distancing has done wonders for the e-commerce market.

3. Housing Market is Stabilizing

Though many people were concerned about a real estate crash – home sales have stabilized. The Bank of Canada assisted in this stabilization by lowering interest rates while saying they will continue to be low for the foreseeable future.

There were also buyers who saw an opportunity to purchase homes as some prices dipped due to the financial climate. This helped bring the realty market back to a more stable position. If you’re considering buying property, now may be the time to talk with a realtor and consider your options.

The Canadian Job Market Moving Forward

A thriving economy is key to a healthy country and high quality of life for its residents. Thankfully, we are seeing movement towards a healthier economy and job market. As our country embraces reopening phases, the Canadian job market will slowly recover. (https://www.beyondbeaute.com/) As we have already seen, a steady increase in reopening businesses has sparked sales, job postings and a reviving economy.

Though we know that a second wave of CoVID-19 is possible, we hope that Canada will embrace safety and responsibility, leading to a recovered job market as soon as possible.

Related Posts: Which Provinces In Canada Have The Most Job Opportunities In 2020?

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• The current and trending unemployment rate in the provincial job market;
• The projected employer outlook in the provincial job market;
• The current and trending job vacancy rate in the provincial job market; and
• Reported trends in industry- and job-specific hiring intent and salary offerings.

Taken together, these conditions can show that job market demand is high or low, that competition within a job market is high or low, and/or that the number of job opportunities in a region is increasing, stagnant, or decreasing [1].

Looking for Job Opportunities in Canada?

In Canada and elsewhere, the job market context that yields the most job opportunities includes a combination of low (and decreasing) unemployment rates, positive employer outlook, high (and increasing) job vacancy rates, and rising salaries. In this kind of “job seekers’ market,” applicants have the greatest chance of job search success. Early projections for the 2020 job market in Canada largely fit this mold.

Understanding Mid- & Post-COVID-19 Job Market Demand

Current job market conditions are not as projected.

The social and political responses to the novel coronavirus pandemic — including changes in consumer behavior as well as new and changing industry regulations — have created highly variable job market conditions across the different Canadian provinces. Moreover, though the current job market context in some provinces appears to signal a trajectory toward a return to pre-COVID-19 job seekers’ market conditions, job market analysts are predicting mixed prospects for job opportunities in Canada through Q3 in 2020.

Potential job seekers in Canada should be aware, then, that:

• Employer outlooks (indicative of hiring intent) are negative in all regions;
• Employers in Atlantic Canada report the smallest degree hiring disruption due to the pandemic and report the greatest intent to return to pre-COVID-19 hiring rates;
• Nation-wide job prospects are strongest in the Manufacturing Non-Durables sector and the Services sector, while Construction sector job opportunities in Canada are the most significantly diminished.

Job Opportunities In Canada Are Varied, Though One Province Stands Out

At the time of this writing, the most promising job opportunities in Canada are in Quebec. This is because most of the job market demand indicators are favorable:

• Quebec recorded the largest gain in employment in Canada in 2020 (from April-May).
• The increase in provincial employment represents the recovery of approximately 30% of job losses incurred due to the ongoing novel coronavirus pandemic.
• Unemployment in Quebec is decreasing — while it continues to rise in seven of the ten Canadian provinces.
• Quebec leads the provinces reporting decreased unemployment rates, with a 3.3% decrease in unemployment in May (compared to 0.2% and 0.4% decreases in Manitoba and New Brunswick, respectively) .
• Quebec has the largest job vacancy rate in the provincial job market in Canada.
• Salaries in Quebec are generally rising, as the province honored its previously-planned minimum-wage increase on May 1, 2020.

Based on these job market conditions, many job seekers in Quebec will likely benefit from fairly high demand for new hires with moderate levels of competition. Though not ideal, the job market outlook in the province is largely positive (except, especially, for Construction sector jobs).

The Role Of Remote Jobs In Canadian Provincial Job Opportunities

Before the novel coronavirus outbreak began, job market experts pointed to the increased availability of remote work opportunities as a new driving force for job opportunities in Canada. Despite the uncertainty and variability caused by the pandemic, this observation — and the associated predictions for increased job opportunities in tech, telehealth, e-learning, and other online-mediated service jobs — has remained accurate.

As a result, job seekers looking for the best job opportunities in Canada in 2020 should broaden their job search parameters to include remote work positions; in remote-first workplaces, especially, hiring trends have continued largely undiminished and employers prioritize talent over provincial address.

Related Posts: BCJobs.ca Research: Top Job Trends 2020

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About the Author

Simon Chou is the Vice President of Operations and Growth at BCjobs.ca. Over the course of his career, he carved a niche in brand development, marketing strategy, and online presence for startups. Prior to joining BCJobs.ca, Simon was an advisor for several global blockchain projects including Litecoin, NEM, and Ripple. In the past, he also worked with Fortune 500 companies in the healthcare space through SM Digital—a global marketing agency.

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