Canadian job vacancies jump to record high ahead of patio season: What you need to know — via financialpost Canada Economy Jobs
Job vacancies had been on a downward track. Then, as COVID-19 restrictions eased, restaurants and hotels started making plans for the summer and found it was difficult to lure staff back. Vacancies in the accommodation and food service industry surged 37 per cent to 158,1000 positions at the beginning of March. The vacancy rate, which measures the percentage of total positions that are unfilled, in the hotel and restaurant sector was 12.
If vacancies do start to fall, policymakers could be persuaded to take a gentler path to a higher interest-rate setting. If vacancy rates stay high, central bankers might accelerate their interest-rate increases, since the mismatch between supply and demand likely will put upward pressure on wages, which would in turn fuel inflation.Article content
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