After several months of modest job gains, Statistics Canada’s latest Labour Market survey reported a loss of 30,000 jobs in July, raising concerns about a stalling recovery. But Randstad Canada President Jan Hein Bax says that despite the loss, the latest numbers from Statistics Canada show Ontario's economy continues to grow.
Jan Hein Bax, President of Randstad Canada, the country’s leader for staffing, recruitment and HR Services, says that while the reported job loss is disappointing news, the Statistics Canada jobs report also has its share of bright spots that are worth highlighting.
“The data shows there is a brighter picture of full-time job gains and modest, yet steady, job growth,” adds Bax. “July added 21,300 net, new full-time jobs, offsetting the loss of 51,600 part-time jobs; average wages rose 3.6 per cent from a year ago; total hours worked increased by 1.2 per cent and Ontario saw significant gains with the addition of 10,600 new jobs,” he says.
“Yes, the unemployment rate is up a tenth of a point to 7.3 per cent in July, but full-time employment has actually grown by an average of 30,000 jobs a month since February,” adds Bax.
Based on Randstad Canada’s internal figures there were some particularly bright spots in Ontario’s job market in July, says Bax. “While we saw an increase in both contract and perm roles in Ontario, the demand for permanent roles saw a significant 24 per cent increase in July,” he says.
Regarding specific industries, Statistics Canada reported losses in wholesale and retail trade, professional, scientific and technical services, and public administration in July. That was offset by gains in finance, insurance, real estate and leasing, as well as information, culture and recreation.
According to Bax, the increases Randstad Canada’s saw in the month of July were due to strong demand within the company’s professional divisions. “In Ontario, demand in the fields of Engineering, Sales & Marketing and Technology experienced the most significant growth in July, along with moderate increases in Finance & Accounting, when compared to the previous month,” he says.
While the economic numbers may appear grim, Bax stresses that opportunities are still available. “Even though segments of the Canadian job market appear to be losing steam, companies that hadn’t been hiring on a permanent basis, or only on contract, are now turning to us to fill permanent roles – that is a positive indicator for us.”
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