Cambridge Chamber of Commerce

A recent report released by the Conference Board of Canada indicates Waterloo Region’s economy will be slower this year but predicts it will outpace the provincial economy.

 

While the impact of a potential slowdown is a concern, one of the key issues for local businesses remains a shortage of workers.

 

The unemployment rate in our region hit 5.5% in 2022, compared to 6.5% in 2021 and 9.6% in 2020. This year, it’s expected to reach 5.8%.

 

Provincewide, the latest numbers from Statistics Canada showed there were 372,000 job vacancies during the third quarter of 2022, nearly double the average of vacancies (195,000) reported during the three years leading up to 2020.

 

In effort to provide local employers with another avenue to find talent, the Cambridge Chamber of Commerce recently launched its online job portal.

 

“Labour shortages continue to be an issue in so many sectors,” says Cambridge Chamber of Commerce President and CEO Greg Durocher. “By providing as many opportunities as possible for local employers to find the help they require is a benefit to our business community as a whole and we’re glad to be able to offer this service.”

 

The easy-to-use portal can be accessed by the public to search and apply for positions posted by Chamber Members in a variety of sectors. 

 

Chamber Members can upload and manage their own posts, which includes contact information and job descriptions.

 

The system allows job seekers to search for positions in Waterloo Region and the surrounding area.

 

Current posts feature jobs in several sectors, including the financial, insurance, medical and automobile industries.

 

“It’s a very user-friendly system giving our Members the ability to post multiple job opportunities,” says Greg, noting the Chamber does not manage the posts itself.

 

Visit the Cambridge Chamber of Commerce job portal to learn more.

 

 

A few facts and figures:

  • In Waterloo Region, the employment rate in 2022 rose by 10,700 jobs (3.3%) to a record 332,140, compared to an increase of 15,250 jobs (5%) in 2021.
  • Overall employment is in our region is expected to increase by 1% this year due to 4,250 jobs in finance, insurance, and real estate, as well as 3,300 jobs in manufacturing.
  • 60% of the job vacancies in Ontario require no more than high school education, paying on average less than $20 an hour. 
  • Nearly 200,000 jobs require less than one year of experience.
  • More than one-third of the job vacancies are in sales and service.
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