Since the pandemic has subsided, businesses in Canada can now operate at full capacity again. As good as this new development is, many businesses struggle to find the staff to help serve their customers. The staffing issue has now become the economic reality of most Canadian employers.
From the recent survey by the Bank of Canada, 42% of Canadian businesses are experiencing labor shortages. Canadian Visa Expert further emphasized that there is almost no industry that is not affected by the inadequate number of workers in Canada.
Severity of the Labor Shortage in Canada
According to a recent report from Statistics Canada, 957,500 job vacancies were recorded in the first quarter of the year. This data is the highest quarterly number recorded in awhile. The industries that are mostly experiencing the lack of workers are the food and hotel businesses.
Businesses are looking to increase wages by an average of 5.8% over the coming year to curtail this unpalatable situation. The Bank of Canada said this action is being taken to attract and retain employees.
According to Canadian Visa Expert, businesses are working at their full capacity to make up for the long months of lockdown. As a result, securing adequate numbers of employees is a top priority for business owners.
Job Vacancies Continue on the Rise in Canada
Even though business operations have generally returned to normal in Canada, most business owners face labor shortages. This challenge is of significant concern to businesses. Thus, the Canadian government is trying every means to lessen the severity of insufficient workers in the country.