Canadian employment prospects very positive heading into fourth quarter of 2010

Canadian employers expect a steady hiring climate for the fourth quarter of 2010, according to the latest results of the Manpower Employment Outlook Survey, the most extensive, forward-looking employment survey in the world. The survey shows that 21% of employers in Canada intend to increase staff levels before the end of 2010. The average outlook for all employers across all regions in Canada is approximately +15%, a 10 point increase from last year at the same time. Canada-wide, the Mining and Manufacturing (Durable Goods) sectors indicate the highest positive hiring outlook at 25% and 21%, respectively.

The net employment outlook, which subtracts the percentage of companies planning to reduce jobs from the percentage that intend to hire more workers, was positive for a fifth straight quarter.

In Western Canada, the outlook is +19% with employers reporting positive hiring intentions in all areas of the region. The strongest employment prospects are in the mining sector, with an outlook of +30%. Gains are also expected in Construction and Education, where outlooks of +25% are expected.

In Ontario, the outlook is +12% with employers in 8 of 10 industry sectors intending to hire in the next three months. The most active areas are in the Education, Manufacturing (Durable) and the Wholesale and Retail Trade sectors. Employers in the Finance, Insurance and Real Estate sectors also report hiring intentions. The most noteworthy increases in employment are expected to occur in the Mississauga, Durham, York and St. Catharines regions.

In Quebec, the strongest employment prospects are reported in the Manufacturing (Durables) sector and the Finance, Insurance & Real Estate sector with outlooks of +23% and +24%, respectively. In both the Education sector and the Transportation & Public Utilities sector, employers report an outlook of +9%.

In Atlantic Canada, employers in the Manufacturing (Durables) industry report an improvement of 53% for the employment outlook, and the Education sector is looking at an improvement of 31%.

The survey of almost 1,900 employers has a margin of error of 2.3 percentage points, and was taken July 15 to July 28.

This labour market indicator is now higher than it has been in almost two years, signaling Canadian companies may boost production heading into 2011. Canada has created about 299,000 job positions since January 2010, according to Statistics Canada. Some economists are now predicting that Canada’s unemployment rate will fall to 7.7% by the end of 2010.