“Job prospects looking up in Toronto” |
| Job prospects looking up in Toronto Posted: 05 Jul 2010 02:40 PM PDT Job prospects are looking up in Toronto, according to a short-term forecast released Monday by the Conference Board of Canada. The Metro Help-Wanted Index for June is also upbeat for 15 other major urban centres across the country, including St. John's, Trois- Rivières, Kingston, Hamilton, London, Winnipeg, Saskatoon, Edmonton and Abbotsford. That bodes well for the labour market report for June, which will be released Friday by Statistics Canada, economists say. The Conference Board's index is based on the seasonally adjusted number of new, unduplicated online job postings across 79 employment websites. The Ottawa-based think tank also constructs a barometer of labour market tightness by dividing the number of unemployed people by the number of ads posted online. A falling barometer is a sign of a tightening labour market and a rising barometer is associated with a loosening labour market. Employment peaked in May, 2008, drifted to a trough in July, 2009, and has been on the mend since then. "The Help Wanted index has mirrored that and it seems the job gains should continue," Conference Board economist Alan Arcand said in an interview. BMO Capital Markets is expecting modest job gains of 13,000 for the month of June. That would keep the unemployment rate steady at 8.1 per cent, said deputy chief economist Doug Porter. The Canadian economy has added about 30,000 jobs each month since the job market began its recovery in July 2009. The unemployment rate topped out at 8.7 per cent last August. Overall, about three-quarters of the jobs lost during the recession have been regained, with the biggest gains coming from the construction, finance, insurance, and real estate sectors. "Those sectors don't look as though they will be adding jobs as robustly as they have been in the last 12 months, and that's why we're looking for a bit of a cooling off," Porter said. "The healthy improvement we've seen since last year is likely to slow in the months ahead. We see the jobless rate struggling to get below 8 per cent by the end of the year." According to the Conference Board's index, job prospects are stable in Sherbrooke, Quebec, Greater Sudbury and Regina. But the forecast is negative in Halifax, Québec, Montréal, Ottawa-Gatineau, Oshawa, St. Catharines-Niagara, Vancouver, and Victoria. "Our assumption is that job growth in Ottawa will be somewhat weak because we won't see as much hiring by the federal government," Arcand said. Five Filters featured article: Headshot - Propaganda, State Religion and the Attack On the Gaza Peace Flotilla. Available tools: PDF Newspaper, Full Text RSS, Term Extraction. |
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