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Hiring intentions hit all-time high in Bank of Canada business outlook survey

Last Updated Jul 5, 2021 at 11:02 am PDT

The Bank of Canada sign is seen in Ottawa as Bank of Canada Governor Stephen Poloz gives his final speech via video conference Monday May 25, 2020. THE CANADIAN PRESS/Adrian Wyld

Bank of Canada says hiring intentions among Canadian businesses have hit an all-time high

Workers' confidence in landing a job has rebounded nearly to pre-pandemic levels

OTTAWA — New data from the Bank of Canada show hiring intentions among businesses have hit an all-time high and workers’ confidence in landing a job has rebounded nearly to pre-pandemic levels.

The business outlook survey shows most businesses across the country and sectors plan to hire over the next 12 months as they foresee faster sales growth as restrictions loosen.

However, the survey notes that some businesses in high-contact service sectors like restaurants don’t expect a return to their pre-pandemic staffing levels for at least the next 12 months.

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The central bank’s survey of consumer expectations says nearly half of respondents who lost hours or income because of the pandemic reported having a harder time finding work in their field now than a year ago.

As well, two-fifths of respondents to the consumer survey don’t expect a quick return to a normal work schedule.

The central bank suggests the improved business and consumer sentiments reflect the pace of vaccinations and economic reopening, but adds that the results also suggest an uneven path out of the pandemic for the country’s labour market.