The Canada Q4 Employment Outlook Explained
Now in its 60th year, our quarterly employment outlook survey is out — and despite inflationary pressures, talk of recession and the continuing talent shortage, we’re pleased to report that major companies are forging ahead with their hiring plans. A full 45% of respondents to the latest ManpowerGroup Employment Outlook Survey reported the intention to hire new employees in the fourth quarter of ‘22. This is only 2 percentage points lower than last quarter. Only 13% expect to lay off workers.
Our quarterly Employment Outlook Survey measures employers’ intentions to increase or decrease the number of employees in their payrolls in the October-December time period.
Once the data is adjusted to allow for seasonal variation, the Net Employment Outlook for the coming quarter stands at +30%. While still encouraging, this represents an 8% decrease from last quarter and a 6% decrease from one year ago.
Viewing the data by region, workforce decreases are anticipated in three of four Canada regions when compared with last quarter, with the Prairie region being an exception.
However, growth is expected across all 11 industry sectors, with Primary Production reporting the strongest seasonally adjusted outlook of +65%.
Globally, Canada tied for 12th place in hiring intentions for the fourth quarter. The leaders this time included India and Costa Rica.
The Employment Outlook Survey is the most comprehensive, forward-looking employment survey of its kind, used globally as a key economic indicator.
As always, whether you are decreasing or increasing your workforce or shifting your work models, we can help. Our research, market intelligence and workforce trends analysis can inform your talent strategy for today and tomorrow.
Access the latest employment outlook research to help you make the smartest decisions for your organization.
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