Today, we issued a report entitled Canada’s Labour Market Puts in a Strong Performance in 2012. This report examines Canada’s labour market performance in 2012 by demographic group, sector and region and forecasts job prospects for 2013.
Despite modest economic growth in 2012 and the many risks facing the global economy, Canada’s labour market fared well. A total of 310,300 net new jobs were created in 2012, of which 99 per cent were full-time positions. The private sector accounted for more than three-quarters of the newly created jobs. Posting the greatest employment gains in percentage terms were:
- Canadians aged 55 years and over
- The goods-producing sector
- The province of Newfoundland and Labrador
With Canada’s economy projected to grow just 1.8 per cent in 2013, businesses are expected to take a cautious approach to hiring. This year, we anticipate Canada’s economy will generate, on average, about 15,000 jobs per month. Despite this relatively subdued hiring outlook, many Canadian businesses are expected to face staffing challenges due to persistent skilled labour shortages. The Canadian Chamber intends to maintain its focus on skills in 2013, particularly in addressing four key areas: upskilling the existing labour force, immigration policies, education-employment alignment, and Aboriginal education and workforce development.
Access the report.
This is the latest instalment in the Economic Policy Series by Tina Kremmidas, Chief Economist of the Canadian Chamber of Commerce.