Statistics Canada has released its Labour Force Survey (LFS) for the month of August 2022. For the first time since data became available in 2015, there were fewer unemployed people (989,000) than job vacancies (1,038,000) in Canada. This is a huge revelation for job seekers, with over a third (38%) of businesses expecting that recruitment of skilled employees would be a challenge in the next three months. Per the LFS, employment declined by 40,000 jobs, while the unemployment rate rose by 0.5 percentage points to 5.4% nationally; the first time the unemployment rate has risen in seven months
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