SEPTEMBER 2018 STATISTICS CANADA LABOUR FORCE SURVEY REPORT MONTHLY SUMMARY
63,300 JOBS ADDED IN SEPTEMBER
5.9% UNEMPLOYMENT RATE*
197,700 12-MONTH EMPLOYMENT GAINS**
UNEMPLOYMENT RATE OVER THE PAST 12 MONTHS*
*Source: Statistics Canada
**Source: Statistics Canada, Seasonally Adjusted, October 2017 – September 2018
MORE MONEY, SAME PROBLEMS
48% of senior managers have extended a counteroffer to keep an employee from leaving for another job.
Workers who accept counteroffers end up departing the company in less than two years, on average.
Source: Robert Half survey of more than 1,200 hiring decision makers in Canada across a variety of professional fields.
© 2018 Robert Half.
Canada’s economy added 63,000 jobs in September, nudging the unemployment rate down to 5.9 per cent (-0.1 percentage points), according to the most recent Statistics Canada .
Highlights in September
- An increase in part-time employment drove up last month’s job numbers.
- Compared with September 2017, employment was up 222,000, or 1.2 per cent, primarily the result of gains in full-time work (+224,000).
- Over the same 12-month period, total hours worked grew by 0.7 per cent.
- In September, employment increased in the construction, finance, insurance, real estate, rental and leasing, public administration, and agriculture sectors.
September employment rose in Ontario and British Columbia but was little changed in Quebec.
- In Ontario, employment increased by 36,000, the third increase in four months. Part-time employment rose by 39,000 while full-time employment was little changed.
- Employment in British Columbia increased by 33,000 in September, driven by gains in full-time work (+26,000). In the third quarter overall, employment increased by 54,000, following a decline over the first half of 2018. After increasing 0.7 percentage points over the first eight months of 2018, the unemployment rate fell 1.1 percentage points to 4.2 per cent.
- In Quebec, employment was little changed as declines in full-time work (-41,000) offset gains in part-time work (+33,000). The unemployment rate decreased 0.3 percentage points to 5.3 per cent.
What employers need to know
The end of the year is drawing near, which means time is running out to use your remaining hiring budget. You also want to have your team set and ready to launch into new projects come January.
Be careful not to let these pressures drive you to hire in haste. You still need to evaluate candidates thoroughly to avoid the risk and .
The challenge, of course, is not letting your recruiting process drag on too long, or you face another risk: letting top talent slip through your fingers.
How can you conduct a smart and speedy hiring process? For one, to help ensure you attract professionals with the right skills and experience. Also, be prepared to talk compensation with top candidates during interviews. Ask questions like, “What management style do you thrive under?” to assess a person’s fit with your corporate culture.
Most important, stay in touch with potential hires, so they know you’re still interested as you finalize your decision. Actions like these can help you to recruit swiftly and make well-considered hiring decisions.
What job seekers need to know
Professionals with in-demand skills have an array of opportunities to pursue in the current market, with low unemployment and millions of open jobs. Leading employers, especially in hot cities and industries, are working very hard to snap up top candidates before competitors do.
You may face some pressure during the hiring process to quickly sign on the dotted line. But you shouldn’t feel compelled to accept an offer just because an employer is pulling out all the stops to impress you. You need to stop and thoroughly consider whether the job, and the organization, are right for you.
Competitive pay, benefits and perks are important to your job satisfaction, of course, but your fit with a company’s culture is, too. So, during the interview process, ask hiring managers to describe the workplace culture and what they think is unique about it.
Find out if the company emphasizes work-life balance and how it helps employees achieve it. Inquire about professional development and advancement opportunities to get a sense of how you might grow at the firm.
In short, take time to determine whether the employer is really offering . If not, then scan the horizon for another opportunity. You may not need to look far.