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More hiring expectedMost Canadian businesses expect to hire more workers in the next 12 months to meet increased demand for their products and services, says the Bank of Canada's spring outlook survey. |
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 [ 2007-04-25 ] |
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The survey of 100 representative firms found that businesses are generally optimistic across the board about what the next year will bring for the econony.
They expect to invest more on equipment and machinery, have improved sales and will increase their overall workforce, while inflation will remain at about the same level, somewhere between 1% and 3%.
LABOUR SHORTAGES
The only fly in the ointment is that labour shortages may hold back their ability to meet the increased demand, particularly in the red-hot Western economy.
"Shortages continue to be most prevalent in the construction, primary and transportation sectors," the survey, which was conducted between Feb. 26 and March 23, says. Forty-one per cent of firms surveyed said they will face labour shortages in the next 12 months.
But 51% said they expected to be hiring in the next year, while only 6% said they thought their workforce would shrink and 43% expected their staffing levels would remain the same.
HIRING INTENTIONS
The survey found that hiring intentions were generally robust across all regions and most sectors, with the notable exception of the troubled manufacturing sector, which actually fell as it did in the winter survey.
Overall, 41% of businesses thought their sales would rise in the next 12 months, but 27% thought they would fall.
With most firms expecting to increase production, investments and their workforce, capacity pressures remain at historical highs, particularly in Western Canada. About half the firms surveyed said they would have some or significant difficulty meeting an unexpected increase in demand.
As well, nine out of 10 firms predicted inflation would remain at less than 3% over the next two years, with 60% of the firms saying it would be in the 2%-3% range.
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