According to a recent BMO Bank of Montreal survey, 51% of Canadians are confident in their overall job security and 28% think the company they work for will grow and hire more employees this year.
One in five people surveyed had job security concerns.
In B.C., 46% of respondents indicated overall confidence in their job security and 23% said the company they work for is growing and will be hiring more employees this year.
Cathy Pin, vice-president, commercial banking, BMO Bank of Montreal, said, “Our research shows that, while Canadians are cautious about how the economic recovery may affect their current job situation, many are optimistic about business expansion and see their company hiring in the coming months.”
According to BMO Economics, job growth is expected to average 1% in the year ahead, or about 15,000 jobs per month, enough to make a small dent in the unemployment rate, leaving it at around 7% a year from now.
Michael Gregory, senior economist, BMO Capital Markets, said “The Canadian labour market has performed admirably, recovering all the jobs lost during the recession by January.
“The unemployment rate is currently 7.2%, compared to a recession high of 8.7%. So far this year, employment growth has averaged 2% annualized, or about 28,000 jobs per month. Additionally, the lofty loonie is forcing many Canadian companies to focus on improving productivity to lift their competitiveness.”
Jennifer Harrison
Twitter: JHarrisonBIV