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.

 

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

Just Posted

Late artist Li-Leger would be ‘thrilled’ to see exhibit of his work at Surrey gallery

Cora Li-Leger recalls some adventures she shared with husband Don, who died in 2019

Borrow $8 billion for Fraser Valley rail link, Abbotsford mayor urges province

Henry Braun urges province to borrow billions to connect Abbotsford & Chilliwack to Metro Vancouver

Ralston to take over as Energy Minister in B.C. cabinet shuffle

Premier John Horgan has made three major changes to his cabinet

Victoria police arrest 12 anti-pipeline protesters supporting Wet’suwet’en

‘We are unarmed, they have guns,’ protesters chanted on Wednesday morning

Canadian public health agencies ramping up preparations in response to new virus

Health officials have said there are no confirmed cases of the emerging coronavirus in Canada

‘Naughty boy’: Monty Python star Terry Jones dies at 77

The comedian has been suffering from a rare form of dementia

Four things ‘not’ to do if you run into Prince Harry and Meghan in B.C.

Here is a list of some things you definitely should NOT do, according to the BBC

Harry and Meghan should cover their own security costs: NDP heritage critic

The prince, Meghan Markle and their eight-month-old son Archie are reportedly staying at a mansion near Victoria

Theo the 800-pound pig trimmed down and still looking for love on Vancouver Island

“He’s doing really well, lost quite a few pounds and can run now.”

Pooches Jasper and Jake bring comfort to Abbotsford Police Department

Comfort dogs there for cuddles and play time when needed

Dog reunited with Tofino owner, months after being taken from beach

Shannon Boothman ‘ecstatic’ at pet’s return after a tip leads to social media search

Most Read