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Lost Opportunities: Measuring the Unrealized Value of Skill Vacancies in Canada

This issue briefing looks at the economic cost to Canada of being unable to fill all the demand for skills.

Document Highlights

  • When an employer is looking to fill a vacant job, what they are really looking for is a set of skills to complete a series of tasks. The unrealized value of skill vacancies in the Canadian economy hit $25 billion in 2020. Measured as a share of the economy, this unrealized value equalled 1.33 per cent of GDP.
  • The six most highly valued skill vacancies are active listening, critical thinking, reading comprehension, speaking, monitoring, and coordination. Vacancies related to each of these skills currently cost the Canadian economy $1 billion or more annually in unrealized value owing to unfilled job vacancies.
  • Providing valuations of these costs among the occupations allows policy-makers and educators to prioritize investments.

Table of Contents

Key Findings
Introduction
Valuing Skill Vacancies
Policies Should Focus on Skill “Sets”
Next Steps
Appendix A—Methodology
Appendix B—Bibliography

Pour lire l’article en anglais, cliquez ici.

Source: The Conference Board of Canada, 20 pagesMarch 2, 2022
Issue Briefing by Nachum Gabler , Bryan Gormley

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