Employment bounces back, BMO report

Job growth is averaging 28,300 per month so far this year

The employment picture in Canada is looking better

Canadian employment rose a better-than-expected 60,900 in September, sending a signal that the labour market, while cooling is not enduring a significant slowdown, according to BMO Economics. BMO also released today the results of a new survey of Canadian business owners showing optimism for 2012.

“Once again, the Canadian economy is showing resilience, with job growth has averaging 28,300 per month so far this year. The solid employment report is good news in a period of economic uncertainty, and will probably clip any expectations of Bank of Canada rate cuts this year,” said Robert Kavcic, Economist, BMO Capital Markets.

The jobless rate in September sits at 7.1 per cent, with full time jobs up 63,800 while private-sector employment dropped 14,900. Private-sector job growth is running at a firm 2.2 per cent year over year.

The BMO poll, conducted by Leger Marketing, revealed that 87 per cent of business owners believe next year will be the same or better for their companies. Furthermore, nearly 40 per cent plan to hire more employees in 2012.

“The survey results support what we are hearing from business owners-they are looking to invest in their companies, and they recognize that well-trained, productive, and innovative employees are a catalyst for business growth,” said Cathy Pin, Vice-President, BMO Commercial Banking. “Heading into the new year, entrepreneurs are more optimistic, and are looking for clear advice and practical solutions on how to upgrade their infrastructure, retool their business processes, and how they can invest in further developing their talent.”




Canadian Employment Report – September:

A few industries saw employment snap back after soft spells during the summer, but the gains were not broad based. Education jumped 38,400 thanks to a summertime glitch in seasonal factors, while resources increased 17,000, ending a four-month losing streak. Manufacturing employment fell 23,500 after three-straight monthly gains. Other notable gainers were professional services, up 35,600, accommodation and food increasing by 30,700 and construction up 11,600.

British Columbia led the pack with a near record 31,600 increase amid broad-based job growth. Ontario added a solid 12,700 despite a slip in manufacturing, while Alberta also remained strong with an 8,700 increase. Job growth in Alberta continues to outpace other provinces, with employment up for five straight months and 4.8 per cent in the past year. Private-sector job growth in the province was up 8.8 per cent year over in September, the strongest growth since 1981 and even outpacing growth seen at the height of the energy boom in 2007.

The survey by Leger Marketing, was conducted on the phone between August 30th and September 16th, 2011, with a sample of 509 small, medium and large l business owners. A probability sample of the same size would yield a margin of error of +/-4.4 per cent, 19 times out of 20.


Surrey North Delta Leader

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Surrey-area associations gear up for hockey restart

But it’s not yet clear when city-operated rinks and rec centres will reopen

Rugby practices to return to Lower Mainland fields this fall

B.C. Rugby announced its return to play plan July 7

White Rock calls for street-banner artists

Deadline to apply is 4 p.m. July 24

Surrey Mounties seize shotgun, ammo, after officers shot at with BB gun in Newton

Police say they were on foot patrol in the 6400-block of King George Boulevard when someone fired at them with a BB gun

Police ask for help finding driver after hit-and-run hurts 18-year-old pedestrian

Featured as Crime Stoppers ‘Crime of the Week,’ crash happened in 7400 block of 140th Street on June 5

The pandemic is widening Canada’s workplace gender gap

Gender pay gap is incentivizing fathers to work while mothers watch children, a new B.C. study has found

Investigation clears RCMP in incident where man fell from Langley overpass

‘Officers acted commendably and placed themselves at risk’ police watchdog report finds

Ex-Okanagan Mountie forfeits 20 days’ pay after sexual misconduct review

A former Vernon RCMP constable made sexual comments, grabbed genitals of male officer in two incidents 10 years ago

Rural Chilliwack residents asked to stay indoors, lock doors amid heavy police presence

Heavy police presence in rural Chilliwack neighbourhood as RCMP contend with ‘serious situation’

Man found dead on Okanagan trail identified as Hollywood actor

GoFundMe campaign launched for man found dead at summit of Spion Kop

3 people dead in Prince George motel fire

Fire personnel believe the blaze was suspicious although investigation in early stages

B.C. sets terms to review police, mental health, race relations

MLAs to recommend Police Act changes by May 2021

Feds announce $8.3M to deal with ‘ghost’ fishing gear in B.C. waters

Ghost gear accounts for up to 70 per cent of all macro-plastics in the ocean by weight

Most Read