The Conference Board of Canada launched its new Canadian Hiring Index, which increased 6.7 per cent month-over-month in March, the highest increase since July 2022. Although the Index increased month-over-month, job postings nationally decreased 5.1 per cent compared to March 2022.

“This Index is being introduced to provide businesses and employers with insights into changes in gross labour demand in the economy,” said Sohaib Shahid, Director, Economic Innovation at The Conference Board of Canada. “We also include a measure of labour market tightness, which provides a read on labour market demand relative to labour force capacity at national and provincial levels.”

Increased immigration levels in Canada are driving both population and labour force growth, resulting in notable employment gains. The Conference Board of Canada anticipates the unemployment rate to rise in 2023, as the demand for workers from organizations wanes and ability for an increasing population to find work weakens.

“Our research found that across provinces, Saskatchewan has the most job postings relative to the size of its labour force, suggesting particularly tight labour market conditions” said Liam Daly, Economist at The Conference Board of Canada.

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