Hiring Intentions Of Canadian Businesses At All-Time High

New data from the Bank of Canada show hiring intentions among Canadian businesses have hit an all-time high and workers' confidence in landing a job has rebounded to pre-pandemic levels.

The "Business Outlook" survey shows that most businesses across the country and sectors plan to hire over the coming 12 months as they foresee faster sales growth now that COVID-19 restrictions are loosening.

However, the survey notes that some businesses in high-contact service sectors such as restaurants don't expect a return to pre-pandemic staffing levels for at least another year.

The central bank's survey of consumer expectations says nearly half of respondents who lost hours or income because of the pandemic reported having a harder time finding work in their field right now. As well, two-fifths of respondents to the survey don't expect a quick return to a normal work schedule.

The Bank of Canada suggests that the improved business and consumer sentiments reflect the pace of vaccinations and economic reopening but adds that the results also suggest an uneven path out of the pandemic for the country's labour market.