Employment was little changed in May, and the unemployment rate held at 5.8 per cent for the fourth consecutive month, according to the most recent Statistics Canada .
Highlights in May
- Employment was essentially unchanged in May and the unemployment rate held steady at 5.8 per cent.
- On a year-over-year basis, employment grew by 238,000 or 1.3 per cent, due to gains in full-time work.
- Four industries with employment gains in May: Accommodation and food services; professional, scientific and technical services; transportation and warehousing; and finance, insurance, real estate, rental and leasing.
Employment was little changed in most provinces during May:
- In British Columbia, employment fell by 12,000 in the month. For the first time since May 2015, employment in British Columbia recorded virtually no growth on a year-over-year basis.
- Employment in Quebec was little changed in May, as a decrease in full-time work was offset by more people working part time. In the 12 months to May, employment in the province increased by 65,000 (+1.6 per cent).
- In Ontario, there was virtually no change in the number of people working in May, and the unemployment rate was 5.7 per cent. On a year-over-year basis, employment in the province was up by 126,000 (+1.8 per cent).
Hiring Trends and Career Tips
Would Canadian workers take a promotion without a pay raise? According to a new from OfficeTeam,more than half of workers (55 per cent) reported they’d be willing to accept an advanced title that doesn't include a bigger paycheque.
Promotions without an increase in pay have become more common over the last few years: 47 per cent of employers commonly award promotions without salary increases. This number is up from 25 per cent in a similar 2011 survey.
Providing advancement opportunities to workers is a great way for employers to reward workers’ success and foster their growth within the company. However, if limited resources prevent organizations from giving salary raises along with new responsibilities, managers should consider offering additional perks, such as:
- More vacation time
- Flexible work schedule
- Telecommuting options
- A bigger annual bonus
- Professional development opportunities
Offered a promotion without more money? Might be a good opportunity to negotiate. For advice on how to ask for a raise from your employer, check out these helpful .
MAY 2018 STATISTICS CANADA LABOUR FORCE SURVEY REPORT MONTHLY SUMMARY
7,500 JOBS REMOVED IN MAY*
5.8% UNEMPLOYMENT RATE*
183,100 12-MONTH EMPLOYMENT GAINS**
UNEMPLOYMENT RATE OVER THE PAST 12 MONTHS*
*Source: Statistics Canada
**Source: Statistics Canada, Seasonally Adjusted, June 2017 – May 2018
A BAD HIRE TAKES A TOLL ON THE TEAM
87% of CFOs said a poor hiring decision negatively affects team morale.
CFOs spend 21% of their time (8 hours a week) coaching an underperforming employee.
Source: Robert Half survey of more than 270 CFOs in Canada
© 2018 Robert Half.