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It has already been a difficult market for Canadian job seekers, with hiring demand remaining weak amid sluggish consumer sentiment. A new report suggests that this holiday season will continue to be a difficult one for those looking for seasonal work.
A report released Wednesday by job site Indeed found that Canadian seasonal job postings as of early November are down 15 per cent compared to last year, and 40 per cent fewer compared to 2022, when the labour market was exceptionally hot and many businesses were struggling to find workers. Holiday job postings this year are also down 16 per cent compared to 2019.
Typically, seasonal job postings start rising around September, but the report notes that this year’s ramp-up was “relatively subdued.” The peak in terms of job postings is usually around November, but this year, it has fallen short of previous years.
Indeed senior economist and report author Brendon Bernard notes that holiday job postings are down by a similar degree as regular job postings.
“The decline both over the past year, as well as compared to 2022, is pretty much in line with broader trends in job postings that we’ve seen,” Bernard said in an interview with Yahoo Finance Canada.
“The cooldown (in the labour market) has been broad-based… we’ve seen it across the economy, though seasonal job postings are particularly weak.”
The labour market has been soft in Canada, as strong population growth has outpaced job creation and hiring rates. Bank of Canada Governor Tiff Macklem noted during the central bank’s last rate decision in October that the modest hiring combined with population growth “has particularly affected young people and newcomers to Canada.”
The weakness in seasonal job postings also comes amid sluggish consumer spending. TD’s latest credit and debit card spend report, released in late-October, indicates weak consumer demand in the third quarter, with Canadians reducing spending and hunting for bargains on non-essentials.
Still, while job postings may be down, Indeed says searches for holiday work have remained stable, rising very slightly by 0.2 per cent.
“There are employers looking for short-term labour at the moment, it’s just that the demand isn’t particularly strong this year and there’s a lot of competition among job seekers for these roles,” Bernard said.
“So, employers looking to fill those positions could have an easier time, but for those looking for temporary positions towards the end of the year, finding those jobs isn’t going to be as easy as they’d like.”