What will the job market will look like this summer? And which industries are hiring the most? The Star speaks to economists to find out.
The summer labour market remains strong as employers gear up for seasonal work, despite a 21 per cent drop in the number of Canadian job postingsThough the number of Canadian job postings was down as of May 12, it remained 30 per cent above 2019 levels.
Workers are needed in hospitality services as hotels and restaurants struggle to match pre-pandemic staffing levels, he said. “We’re in an unusual time as we haven’t seen the impact of rapid interest rate changes impacting us significantly yet,” she said, adding the Bank of Canada’s rate hikes take time to “bake in” to the economy.
Still, the job loss in tech could impact recent graduates looking for internships or entry-level jobs, the Indeed report suggests. Typically, those aged 15 to 24 see an unemployment rate of 10 per cent, which seems high but is historically below average, said Porter.
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