Canadian-employer hiring plans fell for a third straight quarter to the lowest in more than two years, according to a survey by Manpower Inc. (MAN:US)
The share of companies planning to hire between October and December exceeded those forecasting cutbacks by 10 percentage points after adjusting for seasonal variations, the Milwaukee- based employment-services firm said in a statement. The so- called net employment figure was the lowest since the reading of 7 for the second quarter of 2010.
Statistics Canada said last week the nation’s unemployment rate remained at 7.3 percent in August after employers added 34,300 positions. The rate will hold steady for the rest of this year before falling to 7.2 percent in 2013, according to the median of 15 forecasts compiled by Bloomberg.
“Most of the new jobs created in Canada this year have been full-time, high paying positions,” while the job weakness has been in part-time positions, Byrne Luft, a staffing services executive at Manpower Canada in Toronto, said in a statement. “This movement from part-time to full-time employment is an encouraging sign.”
The Manpower report showed non-durable manufacturing had the lowest seasonally-adjusted net employment outlook at 5 percentage points in the fourth quarter, and education the second-lowest with a reading of 6.
The mining industry showed the most optimistic hiring plans, with a net employment outlook of 18, followed by transportation and public utilities at 15.
The survey of 1,900 Canadian employers found 16 percent intended to hire and 7 percent anticipated reductions, giving a net outlook of 9 before seasonal adjustment. The results are accurate within 2.2 percentage points, Manpower said.
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