Statistics Canada just released the September 2019 Labour Force Survey, reporting an increase in employment of 53,700, driven by gains in full-time work. At the same time, the unemployment rate fell 0.2 percentage points to 5.5 per cent.
Highlights in September
- In the third quarter, employment increased by 111,000, or 0.6 per cent, similar to the 0.7 per cent growth rate observed in the second quarter.
- On a year-over-year basis, employment grew by 456,000, or 2.4 per cent.
- Adjusted to U.S. concepts, the unemployment rate in Canada was 4.4 per cent in September, compared with 3.5 per cent in the United States. Compared with 12 months earlier, the unemployment rate declined by 0.4 percentage points in Canada and 0.2 percentage points in the United States.
- Employment in Ontario rose by 41,000 in September, mostly in full-time work. The unemployment rate in the province declined 0.3 percentage points to 5.3 per cent. On a year-over-year basis, employment in Ontario grew by 253,000 (+3.5 per cent).
- While employment was little changed in other provinces in September, the unemployment rate fell Alberta (down 0.6 percentage points to 6.6 per cent) and Manitoba (down 0.6 percentage points to 5.0 per cent).
What employers need to know
Hiring skilled talent can be a struggle in the current labour market. Low unemployment persists and skilled professionals have options. But are jobs sitting open because you can’t find promising candidates … or because you’re holding out for the perfect hire?
It can be tempting to wait for an employee who checks all the boxes on your list of qualifications. However, waiting doesn’t guarantee you’ll find The One.
In fact, not being flexible with your hiring criteria can be risky. You may end up overlooking strong hires who simply need a little training or extra onboarding to get up to speed. The only guarantee from holding out is that your job remains open even longer.
Consider working with a specialized staffing agency to help you cover more ground in this challenging labour market. A reputable agency can help you find the right full-time hire for your business faster by leveraging their deep network of talent. The firm can also connect you with contract or temporary professionals who can quickly step in to support your core team and keep work moving.
What job seekers need to know
It’s a job seeker’s market, to be sure. With this in mind, how selective should you be when weighing your employment options?
If a job offer isn’t completely what you hoped for — but it’s pretty darn close — should you accept it or keep looking? These questions can help you make a decision:
- Are you particularly passionate about the company, job or work you’ll be doing?
- What can you gain from this position that you can’t from another one? Can you learn skills or build experience more quickly or easily? Make import connections?
- Would you have the chance to advance within the organization? How quickly?
- How competitive is the compensation, perks and benefits package? Does it meet your needs?
- Would you feel comfortable and able to excel within the employer’s organizational culture?
If, after answering those questions, you’re still on the fence, it might be best to continue your job search while the hiring market is hot (and if you can afford to do so).
It all depends on your personal situation, of course. But take care not to be too particular or inflexible. Otherwise, you could end up passing on a great job opportunity.