Canada – The workers ratio is at historic low than the employers in every province in Canada.
According to statistics the employement to job vacancy ratio that is key measure comparing the number of Canadians looking for work to the number of available jobs is indicating the historic low. The ratio is much more lower than the pre Covid-19 situation.
The economists finding the reason way back to post war baby boom. They are of the view it is not all due to pandemic. It is slowest moving train on the planet and the situation was predictable 60-65 years ago and nothing has been done about it. The experts had forsighted way ahead the situation actually has arisen in real time.
Experts and economists say the labour shortage is not over and employees have to lower their hiring expectations. They say its not that the jobs are not there but the workers are not available. The workers those have attained the age of 55 and above are exiting the workforce. Some economists maintain the workers quitting workforce began during pandemic and it was accelerated as the older workers opted for early retirement but no younger workers came in to join and fill the gap.
