New data from the Bank of Canada show hiring intentions among businesses have hit an all-time high and workers’ confidence in landing a job has rebounded nearly to pre-pandemic levels.
The business outlook survey shows most businesses across the country and sectors plan to hire over the next 12 months as they foresee faster sales growth as restrictions loosen.
However, the survey notes that some businesses in high-contact service sectors like restaurants don’t expect a return to their pre-pandemic staffing levels for at least the next 12 months.
The central bank’s survey of consumer expectations says nearly half of respondents who lost hours or income because of the pandemic reported having a harder time finding work in their field now than a year ago.
As well, two-fifths of respondents to the consumer survey don’t expect a quick return to a normal work schedule.
The central bank suggests the improved business and consumer sentiments reflect the pace of vaccinations and economic reopening, but adds that the results also suggest an uneven path out of the pandemic for the country’s labour market.
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