The third quarter of 2017 is proving that the economy is continuing on it’s robust growth as Canadian businesses reported 468,000 job vacancies, up 62,000 (+15.1%) from the third quarter a year earlier.
The job vacancy rate represents the sum of all vacant jobs expressed as a percentage of overall labour demand. Simply, there are more job vacancies than people to fill those vacant jobs.
British Columbia is leading the trend in Canada with a third quarter increase of 16,000 (+20.2%) job vacancies from the previous year. BC has the highest rate at 4.2% up from 3.6% the third quarter of 2016. Meaning, more jobs than people to fill them.
Well if the trend continues it will become increasing difficult for employers to find appropriate employees. We will see more “Help Wanted” signs in windows. It could make it easier for people to secure opportunities as employers may need to lower their expectations on what is an appropriate or qualified candidate. Mid-term, it could increase wages as employers compete for the best qualified candidates. Long term it could even slow the overall economy as businesses scale back production and services due to labour shortages.
So savvy employers are being proactive and already posting summer positions with the hope of locking up summer employees now, before it’s too late.
The summer of 2018 looks like a great time to find a summer job as there may be more vacancies than previous years. As always, it doesn’t hurt to start your search now and although many employers don’t know what their needs will be in May, if they are savvy they could be open to discussing summer employment already.
For you, start by preparing yourself and your marketing tools (resume, cover letter, references, portfolio). Research and identify what organizations you are interested in working with this summer and professionally, respectfully introduce yourself. Don’t wait for posted positions to emerge but be prepared that the organization might not be ready to accept applicants or new employees just yet. But by introducing yourself and your interest you are potentially helping them solve a problem. Be proactive, respectful, enthusiastic and professional, most employers would love to have summer employees like that.