The economic rebound from the pandemic is showing up in Langley Township as wage growth and a huge number of job listings, according to jobs data released by the municipality.
The Township’s most recent labour market data shows that eight out of 10 major job categories were seeing average hourly wage increase in the first three quarters of this year, compared to 2021.
Leading the way was management jobs, with an average hourly wage of $35.72, up 19 per cent from the year before.
But most other job categories were up as well.
Health, at $45.64 an hour, was the highest average earning, and was up five per cent from last year.
Trades, transport, and equipment operators was up eight per cent, hitting an average wage of $29.57.
Only art, culture, and recreation jobs, and work in natural resources and agriculture, saw declines in average wages, down two per cent and four per cent, respectively.
The reason for the rising wages, aside from the high inflation rates Canada is experiencing, is likely to do with employers still being unable to find enough workers.
Job postings were up in nine of 10 major job categories – sometimes by as much as 160 per cent, year over year.
There were 135 per cent more postings for management jobs this year than last year, 102 per cent more in business, finance, and administration, 159 per cent for health jobs, and 160 per cent for workers in education, law, community, and government.
The sector with the most job postings was sales and service, which saw 4,749 job postings, a 96 per cent increase year-over-year. Second highest was trades, transport, and equipment operators, which saw 2,698 postings, a 51 per cent jump.
Although there are many job postings, there are still not enough workers taking those jobs to meet the needs of employers, said Cory Redekop, CEO of the Greater Langley Chamber of Commerce.
“We’re still seeing job postings laying fallow for a long time,” he said.
It’s not unusual to see a need for more workers in construction and technology fields, he said. But now the need has spread.
“Now it’s across the board.”
One of the challenges for employers is the age structure of the workforce, and the fact that Canadians are retiring at a higher rate than was previously expected.
The baby boomers are retiring in droves, and StatsCan data also showed that more people aged 55 to 65 are also retiring early.
In August, StatsCan found that 307,000 Canadians had left their job to retire, compared to 233,000 in 2021, and 273,000 in 2019.
“The pandemic, I think, sped up a lot of people’s retirement plans,” said Redekop.
He said the local business community needs to broaden their labour pool, including making sure that newcomers to Canada and young people can find work.
With the Bank of Canada raising interest rates to fight inflation, it’s expected the unemployment rate will rise.
But bank governor Tiff Macklem doesn’t expect to see high unemployment, due to the tight labour market.
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