answerï¼1. What is this graphtelling you? 2. Can youexplain what the twoaxis are measuring? 3. What is the story?
answer the questions briefly and detailed.
here are some info you can refer toï¼
How to measure job shortages/surpluses:
Measure job vacancies by occupational group using the Job Vacancies and Wage Survey.
Problem: some jobs naturally have high turnover, so at any point in time there will be lots of open jobs.However, these will be filled quickly, so can this really be thought of as a surplus of jobs?
Ask about vacancies that have remained unfilled for a long period of time (the data uses morethan 90 days.
This gets rid of the problem of high versus low turnover jobs. However, this still does not give a clear pictureof labour market tightness, since some occupations represent larger portions of the Canadian labour marketthan others. Solution”¦
Use employed-to-job-vacancy ratio.
This allows us to control for occupations that would have a larger number of vacancies since they represent alarger proportion of the jobs in the Cdn economy. This requires us to use both the JVWS and the LFS.
Other indicators? Direction of wage change? If wages are rising, this could potentially be anindicator of job surpluses – employers can’t fill jobs, so they must bid up wages to find workers.Also unemployment rate, proportion of workers doing overtime hours and other indicators.
