BoC: COVID-19 MAY HAVE CHANGED WHAT CANADIANS ARE LOOKING FOR IN A JOB
Oct 18, 2021
By Bob Komsic
Canadians are more willing to leave their jobs to look for new work, and companies are working harder to attract talent.
Many respondents to a Bank of Canada survey tell the central bank they’re more likely to quit in order to look for better hours and pay or greater career opportunities.
The bank says this might reflect the negative impact that working during COVID-19 has had on so many Canadians.
For example, the survey found those in trade, transportation and warehousing may feel pressure from the surge in online shopping.
However, some would prefer to work more hours, suggesting there’s slack in the job market.
Many are also indicating they’d like to try something different.
About one-third would like to change industries, but older workers (aged 55 and over) are less likely to want to switch.
Meanwhile, businesses say they’re having a harder time finding workers, especially in high-contact services, and are more willing to offer better pay.
However companies also say they’re going to pass the higher salaries on to customers, along with higher shipping costs from supply-chain disruptions that they don’t see easing until the second half of 2022.