More Job Growth On The Horizon

Last week, the Synergy Merchant Services Blog reported that the new year would bring the availability of new jobs for Canadians. Today, the QMI Agency reports that the Bank of Canada’s winter Business Outlook Survey has confirmed this prediction.

According to an article from The Toronto Sun’s website: “Roughly 54% of firms surveyed by the Bank of Canada plan to boost staffing levels in the next 12 months, up from only 42% three months ago.”

Following a year when the unemployment rate skyrocketed due to the recession, this, of course, comes as very comforting news. This is especially true considering that Canada’s unemployment rate was 8.5% in the month of December after having shed 2,600 jobs.

Finance Minister Jim Flaherty reminded Canadians at a new conference in St. Boniface, Manitoba, however, that the recovery process is a slow one. Said Flaherty: “As you can see from the employment numbers on Friday, there’s still reason to be concerned about the performance of our recovery.”

There is hope, however, that Ontario and British Columbia – two provinces “ravaged” by the recession –will make up for most of the new job opportunities in the country. The Bank of Canada’s survey suggests that these areas of the nation are confident that business will pick up in 2010.

The QMI Agency’s article also notes that these findings were supported by another survey conducted by CareerAIM.com. This study found that the number of job classifieds posted in December was greater than the amount posted a year previous. It was the only month in 2009 when this was the case. Clearly an indication that companies are beginning to hire again, the statistic is certainly more encouraging that the cutback numbers that took place in December of 2008.

According to the CareerAIM.com study, “the number of new job ads was up 4.3% compared to one year earlier, or by 4,540 more postings.”

So, it looks like Canadians should be diligent in making sure their resumes are up to date. And although it appears as if there are more opportunities today than there was a year ago, it should be remembered that Canada is still experiencing a slow recovery from the recession.

Synergy Merchant Services proudly continues to do its part in offering employment opportunities as our hiring policies remained consistent into the new year. As we look to expand our team, we also look towards the nation increasing the employment rate overall.