Previously, the number of job vacancies was released quarterly, but starting October 2020, data will be reported monthly. The quarterly estimates will be tabulated by province, sector, and occupation. In addition, the number of jobs will be broken down by 4-digit NOC, economic region, and occupation, and will be based on the last reporting month. The data is released two months after the reporting month. The change to monthly reporting also makes the information more reliable.
The SEPH is a useful source for job vacancy data, but has several limitations. Because the sample is small, it is difficult to estimate job vacancies on a regional basis. Also, respondents tend to be those with payroll responsibilities, and thus not ideally suited to answering questions about vacancies. Finally, because SEPH is not designed to collect data about occupations, the job vacancy rate is not broken down by National Occupational Classification.
The job vacancy rate is a simple calculation that represents the proportion of vacancies that match the total labour demand. Because the number of vacancies varies from one city to another, the rate of job vacancies varies over time. In recent years, however, the SEPH has become the primary source for employment data. By examining the number of jobs available, businesses can better assess their own recruitment efforts and gauge their success. They can also use this data to identify key trends and predict future employment and vacancy rates.
While the SEPH is a useful source for estimating vacancies, it does have some limitations. First, the sample is small, which makes it difficult to gauge regional vacancy levels. The respondents are typically those with payroll responsibilities and are not well suited to answer questions about the number of job vacancies in their region. Second, SEPH does not report information on occupations, and a breakdown by National Occupational Classification is not available in this survey.
The SEPH is also a good source for job vacancy composition. Compared to the unemployment rate, the number of vacancies is a good indicator of labour market tightness. It is a proxy for potential labour supply. When the ratio is higher, it indicates a shortage of skills. A low vacancy rate is usually indicative of a shortage of certain skills in a certain region. So, it is important to use data from multiple sources.
The SEPH also contains some limitations. Its sample is small, and the sample is only representative of the local labour market. The respondents are often those with payroll responsibilities and not ideally suited to answer questions about the number of vacancies in their region. In addition, the SEPH does not provide data on occupations, such as the National Occupational Classification. This information is only available in the JVWS. So, you can use this data to estimate the level of vacancies in your area.