It is the second quarter of 2022, and even today, Canada is suffering a labor shortage – with hotels & restaurants continuously being among the worst hits. Labor markets haven’t been this tight in decades. A historic labor shortage is hitting the markets in almost every Canadian industry across all sectors. For instance, while the rising prices of oil should spell good news for the energy-producing province of Alberta, it instead shines a spotlight on the problem that – there aren’t enough workers.
The hotel and lodging sector of Canada is a vibrant industry that is currently experiencing a record high and forecasting significant growth in the near future. But, 2 of every 3 accommodation businesses see labor issues as a significant business impediment. Such a situation is making the hotel rooms go unsold, expansion plans being curtailed, operations being scaled back and doors open with insufficient staff.
The government of Canada has been spending a lot of public resources on funding the secondary & post-secondary education systems – a tremendous amount is spent on student loans and in the effort to lower the tuition fees of certain courses. Subsidizing youth towards achieving credentials that are not in demand only seems to exacerbate the problem of oversupplied labor in certain areas and create undersupply in other critical areas. It is high time to allow students to focus on the 21st-century skill requirements of employers and target areas with a predicted labor shortage in the coming years. Businesses are looking for niche skills in the area of hospitality & tourism and are hiring candidates for ‘skill-based reasons’. Skill development is not an independent process between the worker and the employer but also involves the decision maker for choosing the right degree from the right institution based on the individual preference of every student. Touchstone, as an institution, acknowledges its responsibility and promises to bridge the skill gap by helping students select the right program in the right college. We assure our complete contribution towards student development and the alignment of youth towards market-relevant professional training programs.
During this trending labor shortage in Canada, the unemployment-to-job vacancy ratio is at a historical low. Employers are facing difficulty filling vacant positions. This labor shortage has Canada planning to pick and choose immigrants – now the country is relying on its immigrants to grow the workforce. The new approach is all set to see Canada trying to handpick newcomers for hard-to-fill jobs. This open-door nation is going to give preference to specific skills in labor-starved regions. As per Bloomberg, “Canada aims to bring in more than 1.3 million permanent residents over the next three years, a record number.” This is the right time to fulfill your dream to study in Canada.
Given the abundance of available jobs that are also unfilled, it is high time to retrain the workforce and help young minds choose relevant study programs for the evolving demands of the labor market.
So India, if you are willing to have a successful career in the Canadian market, visit your nearest Touchstone branch or call @ 0172 5000060.