Canada: Is the skills mismatch getting worse? - NBF

Eren Sengezer FXStreet

"Latest data from Statistics Canada suggests employers are finding it increasingly difficult to find qualified workers," points out the National Bank of Canada's Krishen Rangasamy.

Key quotes

"The job vacancy rate ─ the number of job vacancies as a share of the sum of all occupied and vacant jobs ─ jumped in the second quarter to 3.4%, the highest on records. And that despite little change in the jobless rate."

"So much so that the Beveridge curve, the relationship between the jobless rate and the job vacancy rate, is now moving away from the origin. That typically suggests the labour market is becoming less efficient via a worsening of the skills mismatch problem."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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