The number of Canadian vacancies fell by 25,400 in the fourth quarter of 2023 to a total of 678,500, marking the sixth consecutive quarterly decline from the record high reached in the second quarter of 2022, Statistics Canada reported today.

In addition, the national job vacancy rate decreased 0.1 percentage points to 3.8% in the fourth quarter of 2023, marking the sixth consecutive quarterly decline. However, the job vacancy rate in the fourth quarter was at its lowest since the first quarter of 2021. 

In the fourth quarter, job vacancies declined in three of the 10 broad occupational groups and nine of the 10 broad occupational groups year over year.

Also, job vacancies declined in 10 of 69 economic regions, increased in six and held steady in the remaining regions in the fourth quarter. The largest decreases were in Chaudière-Appalaches, Quebec, at 3.4%, followed by Prince Edward Island, Prince Edward Island, at 3.3%.

However, employment rose by 0.2% in the fourth quarter, adding 37,700 jobs, while total labor demand was virtually unchanged from the third quarter and was up 0.5% from the fourth quarter of 2022.