Statistics Canada is out with quarterly job vacancies data and the picture differs strongly from still-robust hiring data. The report shows vacancies fell by 69,900 to 706,100. That's a ongoing decline from the peak of 990,900 in Q2 2022.
The job vacancy rate fell to 3.9% from 4.3%.
The chart shows that vacancies have nearly normalized.
On the wage side, the average offered hourly wage grew 5.8% compared to 4.4% in the prior quarter but slower than in Q3 2022 at the peak, which was 7.3%. StatsCan tried to adjust for the types of jobs available and found y/y wage growth up 3.5% in Q3, up from 3.2% the previous quarter.
