Canada gained 15,400 jobs in January, and the unemployment rate fell slightly to 5.8 per cent (-0.1 percentage points), according to the most recent Statistics Canada Labour Force Survey Report.
Highlights in February
- On a year-over-year basis, employment grew by 283,000 or 1.5 per cent. All of this increase was attributable to gains in full-time work (+283,000 or +1.9per cent), while part-time employment was unchanged.
- The number of employees increased in the public sector, while it held steady in the private sector.
- Over a 12-month period, hours worked rose by 3.2 per cent.
Employment remained steady across most provinces in February:
- Overall employment in both Ontario and Quebec was little changed, with the unemployment rate at 5.5 per cent in Ontario and 5.6 per cent in Quebec. Compared with 12 months earlier, employment was up by 114,000 (+1.6 per cent) in Ontario and by 74,000 (+1.8 per cent) in Quebec
- Overall British Columbia also saw little change in the month, as full-time declines were mostly offset by part-time increases. On a year-over-year basis, employment in the province rose by 40,000 (+1.6 per cent), entirely due to increases in part-time work.
Hiring Trends and Career Tips
A recent survey by Accountemps found that, aside from salary Canadian workers consider vacation time the most important factor when considering a job offer, followed by career advancement potential and corporate culture. In today’s employment market, companies need to put their best foot forward when making an offer and highlight other areas, beyond salary, that could entice job candidates. Professionals want to work for employers that give them greater work-life balance, but also whose values align with their own.
Before companies start the hiring process, they must evaluate their compensation package including perks and benefits and compare them to what others are offering in their industry. Ask your employees what they value most and do your best to implement a compensation program that makes their needs and preferences the focus.
Establish a collaborative culture the employees enjoy, and potential candidates will be drawn to. Here are some tips for making that happen:
- Provide employees meaningful work – make sure employees understand how their work contributes to the company’s bottom line.
- Give workers opportunities to take on new challenges – don’t let talented staff stagnate at your company if you want them to stay.
- Be proactive about discussing career paths – understand what each team member aspires to be and help them put that plan in motion.