Montreal's Economy and Your Job Search: What do the Numbers Say?
If (like me) you live in Montreal, Canada, and have been having a hard time finding a job in the last few years, there is a good reason why, and it has little to do with you. In 2013, 5,939 job openings were posted in Montreal, while 175,000 Montrealers were out of work and searching for a job.
According to Statistics Canada, Montreal's current working population is 2.2 million people (this includes the surrounding suburbs on the North and South shores). The current unemployment rate is 7.9%, which amounts to about 175,000 people who are out of work but actively searching for a job.
Both the working population and unemployment rate in 2014 are relatively unchanged from 2013.
In May 2014, website Canadian Business released a list of the 10 most in-demand jobs in Canada's major cities. Based on data compiled by Workopolis.com in 2013, Montreal businesses had 5,939 job openings throughout 2013.
If we take the unemployment rate discussed above, that means that in 2013 at least 175,000 people were looking for a work in an economy that had only 5,939 job openings available. Nearly half (47%) of job openings were in professional and financial services. Since Montreal's economy has changed very little since last year, the situation remains more or less the same today.
The unemployment numbers, however, don't include those who are employed full-time or part-time and seeking a job elsewhere. Recent grads working at Starbucks to pay the bills until they find something in their field have to contend with 175,000 unemployed for a job.
Not everyone is equally qualified for every available position, but even if all 5,939 positions were filled, that would still leave 169,061 people unemployed, plus those who are trying to get into their desired professions or careers but are stuck in underemployment.
It is an employer's market in Montreal right now; with so many potential applicants, employers can resort to credential creep and low salaries to hire whom they want.