The hot labor market in Canada

Canada’s labor market has seen a rise of help-wanted ads.

More Canadian job postings were added into Indeed in February 2022 since the start of the pandemic according to the Senior Economist, Brendon Bernard at Indeed. The labor market in the country added 337,000 jobs, offsetting the loss of 200,000 jobs in January.

“With the unemployment rate approaching multi-decade lows, employers looking to hire are increasingly going to have to find new employees among job seekers who are already working,” Bernard said.

For recruiters this means, businesses may have to increase wages and sweeten their benefits packages to attract workers. When unemployment rate is record-level low, it is a candidates market which means employers are fishing from a pool that has shrunk considerably.

Moreover, there are candidates that are also looking to switch to higher wages or better benefits as opposed to their current job. However, it is not always the money. Even though it is the single largest motivator for a candidate to accept a job, there are still other factors worth more than money.

Businesses have to focus on values, flexibility and corporate culture.