Canadian firms plan to hire more staff: Survey

This article was last updated on April 16, 2022

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It seems like Canadian businesses are looking forward to hire more staff in the coming years albeit they expect that sales growth will not increase, the Bank of Canada’s winter business survey concluded on Monday.

The report reads: “The global economic outlook and concerns about demand continue to weigh on firms’ expectations for business activity,” but the balance of opinion on employment rose.

The number of companies likely to raise staffing levels increased by 2 percentage points to 54 percent, while those planning a modest workforce decreased 5 points to 9 percent.

According to the central bank of Canada, the balance of opinion on past sales growth has stayed positive but turned somewhat negative for future sales growth. The survey also highlights a minute change in opinion on investment intentions and those reporting production capacity pressures.

“Overall, the weak U.S. economic outlook, concerns about adverse effects from the situation in Europe and an expected slowing in household spending were among the factors dampening sales prospects.” the central bank said in its survey, released Monday.

In another survey, the Bank of Canada said responses from senior loan officers outline “almost no change in overall business-lending conditions during the fourth quarter of 2011.”

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