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article imageCanada: Job market expected to tread water through summer

By Justin Crann     Jun 15, 2011 in Business
Good news for Canadian summer job seekers: an employment outlook survey projects that the market will be hiring steadily through the summer months.
The survey, conducted by the Canadian branch of international job services firm Manpower, asked almost 2,000 businesses across ten sectors if they planned to hire on new staff over the summer months of July through September.
Of the companies surveyed, 26 per cent said they are planning to take on more employees, while four per cent are anticipating layoffs and 68 per cent are neither hiring nor firing in the summer months. The remaining two per cent said they were unsure whether they would or would not hire new employees.
With seasonal adjustments, this means that Canada has an employment outlook of 16 per cent, which is three per cent greater than the prior quarter and six per cent higher than the same time last year. The strongest sector of the ten analyzed is Mining, which has an employment outlook of 24 per cent this quarter. The weakest sector is Education at 9 per cent.
Using information from the Manpower report  this infographic depicts the change in employment outloo...
Using information from the Manpower report, this infographic depicts the change in employment outlook across the ten sectors surveyed.
The survey follows a Statistics Canada report that Canada's unemployment rate had fallen to 7.4 per cent in May, the lowest it's been in two years, after adding over 22 thousand jobs that month.
The steady job market can, for the most part, be attributed to a growing economy. According to a report from the Organization for Economic Co-operation and Development, Canada's economy is expected to grow by 3 per cent this year, and 2.8 per cent in 2012, driven primarily by a strong demand for resources, which Canada has in abundance.
The OECD did warn, however, that economic growth could slow if household debt and inflation continues to rise, and urged the Bank of Canada to raise interest rates to curb those forces in the long term and maintain the country's economic recovery.
It's a message that did not go totally unheeded by Bank of Canada chief Mark Carney, who announced shortly after that interest rates would remain where they are for now, but will soon be back on the rise.
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