An analysis of the state of Canada's labour market released with the 2014 federal budget, revealed a skills gap predicament which is being driven by a 7% unemployment rate coupled with a 4.2% job vacancy rate. Large and persistent imbalances between labour supply and demand across many occupation groups and regions could signal a labour market mismatch with potential to adversely affect the Canadian economy.
Statistics Canada: Canada's Consumer Price Index increased 1.5% year-over-year, the most significant since June 2012, driven by higher electricity and gasoline prices. Seven out of eight major components of the index saw an increase from January 2013.
Increasing productivity of 30,000 workers by 33% is the same as adding 10,000 workers – this is one part of the skill gap solution said Bob Blakely, a panelist at Cardus - Canada's New Industrial Revolution conference.
Talent shortage or job shortage? Studies by Statistics Canada and the department of finance reveal conflicting data. Analysts and experts demand further research into labour market data as the backbone of future economic policies.
A stable hiring climate is expected over the year as employers are optimistic due to an expected increase in revenue in 2014 and improved financial position compared to the previous year.
The Teranet-National Bank Composite House Price Index reached a record high in January. A 0.4% increase from the previous month is the largest since January 2010. Year-over-year, the index also grew 4.5%.
The mining industry is in a slump but that doesn't mean it's over. At least 145,000 workers are needed over the next 10 years to replace outgoing workers and presently, around $140 billion worth of new projects are awaiting government approval, including developments in northern Ontario's Ring of Fire mineral belt. "We might see some shortages," according to Byrne Luft, Vice President of Operations at Manpower. "But rest assured, in the coming months, and certainly coming years, we're going to see this wound of skill shortages get deeper."
Expression of Interest (EOI) system to accelerate immigration applicants with skills most in-demand or those who already have Canadian job offers. The system will complement other programs such as the Federal Skilled Worker Program, Federal Skilled Trades Program and the Canadian Experience Class.
The best paid sectors and best places to find jobs in Canada: Adzuna's survey based on job postings reveal jobs in the Energy, Oil & Gas, IT, and HR sectors make the highest salary offers, while Alberta, Saskatchewan and Manitoba have the least applicants per job.
27% of Canadians polled expect to work full-time at age 66 according to SunLife Financial, and two out of three of them cited they will need the money. This is also one year earlier than the average response in a 2012 survey and down from age 69 in a 2011 survey.
Fewer jobs, shorter hours and less training are the expected results of implementing a living wage policy according to a report from the Fraser Institute. A living wage policy may cause more harm to the people it was meant to benefit; however, it still has many supporters who recommend it as a tool to help people out of poverty.
24% of Canadians plan to use their homes as their main source of retirement income according to a Sun Life survey. Additional income sources include: 30% from government plans, 27% from personal savings, 23% from employer plans, 5% from in heritance and 6% from other sources.
The Canada Pension Plan Investment Board reported $201.5 billion worth of assets under management at the end of December 2013, up from $192.8 billion at the end of September, and earned a 5.9% return for the three months ended December 31.
The Government of Canada will provide over $6.1 million to the Pacific Trail Pipelines Aboriginal Skills and Employment Partnership Training Society, to train 780 Aboriginal people in British Columbia.
Canada Post integrates its post services with e-commerce platforms like Etsy allowing members in Canada to ship without having to go to the post office. This is one of the crown corporation's recent efforts to boost business.
Recruiting workers for large resource projects in remote locations in Newfoundland will prove more challenging in the coming decade as nearly one quarter of workers are expected to retire, according to BuildForce Canada.
North American leader's summit: Obama, Harper, and Peña Nieto discuss fast-track free-trade zone, Keystone XL pipeline, immigration and border control policies in the annual summit.
Post-secondary students putting increasing emphasis on return on investment from their education when choosing their field of study. As nursing, science and business degrees become more popular, students turn away from the liberal arts and education.
Vancouver has the highest quality of life in North America according to a survey issued by global business consultant Mercer. Ottawa, Montreal and Toronto follow on the list.
Unemployment and underemployment of doctors in Canada is on the rise while patients wait. According to The Star Phoenix, poor economic performance, physicians retiring later, increased reliance on other health-care providers in place of doctors, and inadequate career counseling for medical students about available work were factors.
The Canadian Federation of Students has taken an opposing stance to the 2014 Federal Budget, saying that it does nothing to aid the student debt crisis in Canada. With almost 400,000 youth between the ages of 20 and 29 who are unemployed currently in Canada, we should be looking at actual spending on programs that will ensure that young people are able to get the skills they need.