Toronto’s job vacancy rate rose to its highest level since the depths of the financial crisis in November.
The city is now home to 683,000 job vacancies, up from 585,000 in November, according to Statistics Canada.
But the number of vacancies is down from the 990,000 that the city recorded in August, before the federal government implemented the new federal payroll tax credit, which will benefit about 1.5 million low-income earners.
Toronto has also experienced a dramatic increase in its annual number of job cuts.
In September, the city lost 5,500 jobs, according the city’s labour ministry.
That was the biggest monthly loss since April, before it implemented the credit.
But a surge in job cuts has coincided with an increase in job vacancies.
In the last six months, the number has fallen from 882,000 to 735,000, according Statscan.
With a shrinking labour force and a growing number of people unemployed, Toronto is facing a job shortage.
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