Participation in the Work-Sharing Program up
Throughout Canada, the number of employers using the Work-Sharing Program is continuing to increase. The program is designed to help employers and workers avert temporary layoffs by providing income support to workers who are willing to work a temporary reduced work week when there is a reduction in the normal level of business activity. The number of employees covered by the program has quadrupled in just a few months, to 130,000 in June from 27,000 in January. The highest increases were recorded in Quebec, Ontario and British Columbia. Economists believe that the Canadian unemployment rate would be much higher without such a program.
Getting a degree continues to pay off
Getting a degree remains a good investment in terms of higher salaries and employability. According to the study titled The Value of a Degree: Education, Employment and Earnings in Canada, published in late June by the Canadian Millennium Scholarship Foundation, college and university graduates are more likely to find a job and make a better living than people who stopped studying after high school, despite the increase in the number of post-secondary graduates.
Employment Office sets up headquarters in Vancouver
At the end of June, Australian recruiting firm Employment Office announced the opening of its Canadian headquarters in Vancouver. Canada is the fifth country to host the recruitment marketing specialist, which is already established the UK, New Zealand and South Africa. Employment Office works with employers to create recruiting campaigns that keep costs down compared to traditional recruiting agencies, in that the fees are per campaign, and not per hired candidate.
Executive compensation under the microscope
According to a recent study on the compensation practices of 100 of the largest Canadian companies, many companies are changing how their executive officers are compensated, at the request of shareholders. The objective is to make sure that compensation is more closely aligned with corporate performance. In 2008, total CEO compensation in Canada’s 100 largest firms dropped 5% on average. These results are leading economists to wonder whether a significant reform of compensation systems is under way in Canada.
Entrepreneurs are optimistic, especially as regards their own company
Canadian entrepreneurs are more optimistic about their own companies than they are about their industry or the Canadian economy overall. According to a poll conducted in May by the Business Development Bank of Canada (BDC), 86% of entrepreneurs questioned were very or quite optimistic about the growth potential of their own firm, but less so about other areas, falling to 75% on the growth potential of their industry, and 60% for the Canadian economy.
Payroll employment in Canada down
According to Statistics Canada, the number of employees in Canada has fallen every month since October 2008. The total drop in the number of non-farm workers from October to April was 376,500. Average weekly earnings, including overtime, was $820.53 in April, up 1.4% vs. April 2008, but a decline in the year-to-year growth of 1.8% observed in March.
Broadbean Technology and Manpower sign a five-year agreement
Broadbean Technology and Manpower have signed a five-year global agreement, in which Broadbean will be Manpower’s supplier for online job advert distribution and response tracking technology. The application will support Manpower’s various brands, including Manpower, Manpower Professional, Manpower Business Solutions and Elan.
“Slow” recovery in late 2009
Canada should experience a “slight recovery” by the end of the year, according to Château de la Muette experts, the Parisian headquarters of the OECD. Economists believe that the country will stay in recession until the third quarter of 2009 before posting a “slow, sluggish” recovery, notably because Canadian households have not regained their confidence and are continuing to save. The unemployment rate should level off at slightly under 10% in 2010.
Sinking morale in Canadian companies
Seven out of 10 employers in a recent poll conducted by employment law firm Rubin Thomlinson LLP said morale is currently their biggest workplace challenge. The recession is causing increased anxiety about job security, while the greater workload, combined with numerous layoffs, is contributing to boosting workplace stress.
Saskatchewan wants to boost immigration to the province
Saskatchewan has invested an additional 2.69 million dollars in immigration in its budget, in the hope of attracting 10,000 new residents in the year to come. Last year, 2,914 people acquired resident status through the province’s immigration program. Minister of Immigration Rob Norris hopes to welcome 3,400 new residents (or 10,000 including family members) in 2009–2010.