Job Growth Booming Across Canada

Synergy Merchant Services is proud to announce that we are still continuing to add members to our illustrious team. If you are seeking a unique career opportunity and you live in the Greater Toronto Area, you may just want to give us a call to see if you would be a good fit for our growing staff.

In today’s Toronto Sun, QMI Agency’s Sharon Singleton points out that Synergy was not alone in the month of February in expanding its employee base. In fact, Statistics Canada reports that companies across Canada hired 21,000 people last month. Interestingly, the rate of employment grew expontentially for men aged 55 and over, whereas men between 25 and 54 as well as youths and older women saw no significant job growth.

According to HSBC economist Stewart Hall: “It illustrates that the baby-boomers aren’t babies any longer. It shows we have an ageing demographic that means the economy will need to evolve from working harder to working smarter.”

As a result, the employment rate has now dipped to 8.2%. Such figures have helped to add strength to the notion that Canada’s economy is, indeed, growing steadily. Singleton notes, however, that the future of the nation’s financial situation will depend on how companies cope with the aging population.

She writes: “As Canada’s population ages, studies have pointed to the fact the problem in the future many be too few people, not too few jobs. To make up the shortfall, the economy will need to boost productivity levels, economists say.”

Currently, the increase in job opportunities has come mainly from the public sector, which added 46,000 jobs. Job gains were also found in “the hospitality, natural resources, building and health care sectors,” says Singleton also noting that “accommodation and food services businesses took on 27,000 workers, while building and other support services hired 18,000.”

The goods and manufacturing sectors, on the other hand, continued to struggle with their employment remaining well below levels of just two years ago. Finance and insurance companies as well as retail and wholesale trade lost workers too.

British Columbia, Nova Scotia and Saskatchewan were the provinces that saw the largest rises in employment while Alberta saw a decline. The rest of the country experienced little to no change in employment rates.

As always, the hope is that the employment rates will continue to increase throughout Canada. And of course, Synergy will be doing its part to boost that statistic.