"That means employers are getting their needs met 21:2, or more than 1000% more than Canadians!"

To give a bit of perspective from the flip side of it though, most employers figure that they need to look at a minimum of 20 candidates to find just 1 who wouldn't be a complete waste of time to hire.  That isn't to say that this 1 out of 20 will be good employees, just that the other 19 are all but guaranteed not to be good employees.

The real problem is BOTH a labour shortage and an oversupply, or perhaps more to the point, a mismatch between workers and jobs.  If you've ever done any hiring you'll know that there are a lot of people that just won't ever be a good fit for a job and no amount of worker training can change that.