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.
FEBRUARY 2018 Statistics Canada Labour Force Survey Report
MONTHLY JOB GAINS OVER THE PAST 12 MONTHS*
|March 2017 19,800|
|April 2017 3,200|
|May 2017 54,500|
|June 2017 47,000|
|July 2017 10,000|
|August 2017 20,200|
|September 2017 10,000|
|October 2017 35,300|
|November 2017 79,500|
|December 2017 78,600|
|January 2018 -88,000|
|February 2018 15,400|
UNEMPLOYMENT RATE OVER THE PAST 12 MONTHS*
|March 2017 6.7%|
|April 2017 6.5%|
|May 2017 6.6%|
|June 2017 6.5%|
|July 2017 6.3%|
|August 2017 6.2%|
|September 2017 6.2%|
|October 2017 6.3%|
|November 2017 5.9%|
|December 2017 5.7%|
|January 2018 5.9%|
|February 2018 5.8%|
*Source: Statistics Canada
15,400 jobs added
5.9% unemployment rate
OVER THE PAST 12 MONTHS**
269,900 jobs added
0.8% UNEMPLOYMENT RATE DECREASE
HOTTEST INDUSTRIES IN FEBRUARY*
Real estate, rentals and leasing:
10,400 jobs added
21,800 jobs added
Accommodation and food services:
19,600 jobs added
3,600 jobs added
**Source: Statistics Canada – Seasonally Adjusted, March 2017 – February 2018
What Job Seekers Want (Besides a Paycheque)
Workers were asked, “Aside from salary, which of the following is the most important factor to you when considering a job offer?”
|TOTAL||GENDER MALE||GENDER FEMALE||AGE 18-34||AGE 35-54||AGE 55+|
|Vacation/Paid time off||26%||27%||24%||23%||30%||20%|
|Career advancement potential||25%||25%||24%||33%||22%||10%|
|Corporate culture/work environment||22%||21%||23%||22%||22%||23%|
|Professional development/training opportunities||10%||11%||10%||14%||8%||7%|
“To remain competitive, hiring managers need to highlight what they offer beyond salary. Promoting flexible compensation packages that provide the benefits and professional resources employees value most will help to cultivate a more attractive corporate culture and engaging work environment.” — David King, Canadian president of Accountemps
Survey of 550 workers in Canada.
View the full press release here, and more information on compensation and benefits.
© 2018 Robert Half