labour market

The Bank of Canada raised its key interest rate by half a percentage point on June 1, bringing it to 1.5 per cent. Since then, it has signalled a willingness to move in a more aggressive direction.
The research released today indicates that experience and education – once crucial to many positions – are becoming less important amid labour shortages.
“Our workforce has changed,” says expert. “Many companies are coming out of COVID with new projects, new initiatives, new programs that are driving their business and don’t see what they’re working…
The combination of a fiercely competitive job market and the still-rising cost of living will likely lead to more companies boosting employee pay this year, experts say.
National unemployment numbers out today are just a hint at what is becoming a red-hot job market.