Bank Of Canada Business Outlook: Employers In A Hiring Mood

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First Posted: 07/11/11 12:48 PM ET Updated: 09/10/11 06:12 AM ET

THE CANADIAN PRESS -- OTTAWA - Businesses across the country are planning to kick their hiring into high gear over the next year, according to a Bank of Canada survey that found corporate Canada in a generally upbeat mood.

"The balance of opinion on employment has risen to a record high level," the bank said in its summer business outlook survey released Monday.

"Intentions to increase employment over the next 12 months were widespread across all regions and sectors, particularly in the services sector."

The central bank said 57 per cent of the firms surveyed expected to hire new workers over the next year compared with just four per cent of firms that expected to have fewer employees over the next 12 months.

The strong expectation of jobs growth followed a better than expected jobs report in Canada for June, the third consecutive month of gains.

Statistics Canada reported Friday a net gain of 28,000 jobs for the month, a stark contrast to a disappointing report south of the border, where the much larger U.S. economy gained just 18,000 jobs.

The central bank also said Monday that its survey found on balance that firms saw an increase in sales growth over the past year and that they expect sales to rise even faster over the coming year.

The bank said strong commodity demand is fuelling the view by companies in Western Canada that sales growth will accelerate over the coming year, while those in the rest of Canada expect stable growth.

"Firms based in Central and Eastern Canada generally expect sales growth to be similar to that over the past 12 months, given an economic background characterized by continuing softness in U.S. demand, strong competition and a high Canadian dollar," the central bank said.

"Nonetheless, a number of firms reported that they expect to benefit from recent efforts to reposition their businesses or diversify their markets."

In its senior loan officer survey, the Bank of Canada says lending conditions in Canada for businesses are continuing to ease.

The two reports come as the Bank of Canada governor Mark Carney prepares to make his next interest rate announcement next week.

Craig Wong, The Canadian Press

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THE CANADIAN PRESS -- OTTAWA - Businesses across the country are planning to kick their hiring into high gear over the next year, according to a Bank of Canada survey that found corporate Canada in a ...
THE CANADIAN PRESS -- OTTAWA - Businesses across the country are planning to kick their hiring into high gear over the next year, according to a Bank of Canada survey that found corporate Canada in a ...
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Mastiff
Via ovicipitum dura est.
05:24 PM on 07/11/2011
I'm finding the coding on this site gets worse by the day. In addition to the poll not working, I also enjoy "features" such as all links from My Profile leading to non-existent pages, and people showing up in "New followers" spite having been accepted several times.

I hope running the Canadian accounts as guinea pigs was successful enough that the ew UK accounts work flawlessly.
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NestofViperss
03:49 PM on 07/11/2011
The vote box isnt working...just thought i would let you know
02:06 PM on 07/11/2011
Sounds like some American economists moved north.
01:14 PM on 07/11/2011
Fantastic news http://canuckreport.ca
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Steve Lives
The Venus Project ... look it up
12:35 PM on 07/11/2011
Oh goodie, MacDonalds is hiring again.
12:28 PM on 07/11/2011
Uh oh! From the Bank of Canada. Are the words "The economy is overheating! The economy is overheating! Raise interest rates"  marching into this situation. NAIRU targets threatened! Create new unemployment! Shore up the Reserve Army of Labour! Make sure those wages keep staying stagnant. Ah, crisis averted!
01:38 AM on 07/12/2011
Haha, In other words; The Bank of Canada wants to increase the interest rates soon. Why are they listening to the banks and the firms, it does not make any sense. The Bank of Canada should listen to the unemployed and the part timers or the people that actually want to work but can't find any.

An increase in Interest rate would default more people and thus allowing the banks and creditors to take over their assets that they've worked hard for; in the end, the banks take it all ( uckers): Bye American or Canadian Dream. Look around your community and your environment and you'll see people are still suffering and trying to find jobs just to pay the rent and feed their kids or try to avert a default from payments. Although the Banks can control you, we also need them too, don't hate the banks too much also. For without the banks, it will be just like the 1930's where most people would have no financing and people would be kicked out of their houses and carry sacs and hop onto trains just to find a living.

That's why the Bank of Canada and the US Federal Reserve was created, to prevent this sort of mess. Bank of Canada; listen to the people and not the Private Banks. The Bank of Canada has the power to help the people.