“Experience Is The Teacher of All Things” -Julius Caesar
Hope For the Canadian Job Market
Statistic Canada’s Labour Market Survey indicates that Canada’s job market is still struggling for growth, but a glimmer of hope has been seen by Randstad Canada, the country’s leader for staffing, recruitment and HR Services. The latest report by StatsCan indicated that the economy shed 2,800 jobs in February and that the country’s unemployment rate dropped by 0.2%, to 7.4%. Regarding specific industries, StatsCan reports that the biggest losses last month were in the wholesale trade and retail sectors, with losses of approximately 37,000 workers.
However, Jan Hein Bax, president of Randstad Canada, has seen a steady increase in contract demand over the last few months. “There was a slight 2% increase from January to February of this year, but a moderate increase of 31% was seen in January alone, compared to December 2011′s numbers,” he says. And while the economic numbers may appear grim, Bax has stressed that opportunities are still available.“As we’ve seen in the past during difficult economic times, businesses rely more heavily on contract or temporary hiring to adjust to market uncertainties.” he says. “
Finance, insurance, real estate and leasing added 41,000 new jobs to the economy. Modest growth was also seen in educational services, business, and building and other support services, as well as natural resources, construction and manufacturing. Based on Randstad’s figures, there were significant increases in the financial services industry, which is up by 52%. It also reported increases in government and non-profit industries (19%) and the telecommunications industry (16%) since January. The most in-demand job roles currently are architects, which rose by 21%, and support roles, which rose by 19%.
Market Update as of March 16 2012
The TSX closed at 12497, down -7 points or -0.06% over the past week. YTD the TSX is up 4.53%.
The DOW closed at 13232, up 310 points or 2.40% over the past week.YTD the DOW is up 8.30%.
The S&P closed at 1404, up 33 points or 2.41% over the past week.YTD the S&P is up 11.61%.
The Nasdaq closed at 3055, up 67 points or 2.24% over the past week.YTD the Nasdaq is up 17.27%.
Gold closed at 1655, down -51.00 points or -2.99% over the past week.YTD gold is up 5.75%.
Oil closed at 107.21, down -0.23 points or -0.21% over the past week.YTD oil is up 8.40%.
The USD/CAD closed at 1.0082, down -0.0012 points or -0.12% over the past week.YTD the CAD/USD is up 2.90%.
Sources: Bloomberg, Statistics Canada. advisor.ca, Investment Executive