'We're not seeing a major quarter-to-quarter fluctuation in hiring plans in this report'
Canadian employers remain optimistic about hiring for the fourth quarter of 2024, with the Net Employment Outlook (NEO) standing at 26%, according to a recent report.
This represents a 1% increase both from the previous quarter and from the same period last year.
“Overall, we’re not seeing a major quarter-to-quarter fluctuation in hiring plans in this report,” said Darlene Minatel, country manager for ManpowerGroup Canada. “But there are big swings in some sectors. For example, Communication Services is expecting a 17-percentage-point fall from last quarter, while Information Technology is rebounding with a 15% gain from last quarter.”
The NEO is calculated by subtracting the percentage of employers who expect staffing reductions from those who plan to hire.
Overall, 43% of Canadian employers expect to increase their workforce in Q4 2024, based on the global survey of 40,000 participants in 42 countries. Meanwhile, 41% anticipate no change and 15% foresee layoffs.
As the holiday season approaches, Amazon is ramping up its workforce across Canada, announcing plans to hire more than 9,000 full-time, part-time, and seasonal employees.
The Northern Territories are projected to have the most robust hiring environment, with a NEO of 42%, followed by Quebec at 29%. In contrast, the Atlantic Territories are expected to see a 10% decline in hiring intentions, the only region in Canada forecasting a drop for Q4. Year-over-year, the Atlantic Territories also saw the largest decrease, down 13%, according to ManpowerGroup.
Compared to last quarter, the only region expecting a decline is Atlantic Territories at -10%. The same region also had the largest year-over-year decrease, at -13%.
Sector-wise, the Information Technology industry leads in hiring optimism, with a 35% NEO, followed closely by Transport, Logistics & Automotive at 33%. The Energy & Utilities sector reports the weakest outlook, with a NEO of 20%.
Payroll employment in Canada grew by 32,800 in July, after June saw a dip with the loss of 22,900 jobs, according to data from the Survey of Employment, Payrolls, and Hours.
