LafontaineBrennan837
The new year started with some expectations and we have seen some good indicators related to Canada's job market. Throughout oil and gas project control jobs the first quarter the unemployment rate improved for a kick off point around 7. 2 ending the quarter at a six. 9 unemployment rate. During the period of the 12 months ending Drive 2014 Canada added 190000 jobs adding 43000 jobs March alone.
In developing this summary I look at a number of big picture factors as well as Eagle's own experiences on the front end of delivering talent to our clients throughout the country. From these indicators we can see trends and understand the place that the opportunities are for job in Canada.
Positive movement within the stock market will result in investment by means of public companies in assignments in infrastructure and other growth initiatives which at the end of the day suggests jobs. I use the TSX as my guide and it continued its upward trend in Q1 ending often the quarter with a reading involving close to 14200 which is virtually 100 points higher than the start of the quarter. This would declare that we can expect these public corporations to start to invest and hopefully that results in more Canadian careers.
Canada's oil sector continues with its challenges of increasing approval for much needed canal which is somewhat restricting growing in that sector however by simply most market standards typically the oil patch is powerful. The price of a barrel associated with oil at quarter finish was around $108 dissimilar to $100 at the start of the quarter with a strong oil price tag being one indicator of the appetite for investment along with growth in jobs. That continues to be Alberta leading the charge but Saskatchewan in addition to British Columbia also benefit from jobs in the particular oil patch. This industry employs huge numbers of people across all of professions and trades in addition to continues to be a big area of opportunity to job seekers.
The financial field is centered primarily throughout Toronto but also has a robust presence in Montreal and is also a huge employer here in Canada. This sector continues to make a huge demand for talent which is one that job seekers would be wise to target. The big driver connected with demand for talent in this segment will be regulatory change reasonably competitive pressures technological change development and the impact of settlement baby boomers over the coming years.
Another big employer in Canada is the telecommunications sector. Powered by technological change competitive pressures infrastructure growth development into new markets and again the impact of retirement boomers this is a sector which is always looking for talent.
As anyone who has done some remodel work or bought a fresh home will know the trades come in big demand. This is an section of opportunity with good mobility in the industry competitive incomes and large demand. In addition to the traditional real estate type work and large creating construction there are continuing significant projects within various areas such as the oil patch.
Governing bodies across Canada are big employers but in recent years are already under pressure to reduce spending in addition to cut back on headcount. That does not necessarily mean however that there is no chance. Government continue to invest in assignments that will result in more efficient distribution of services in consumer focused initiatives and will always provide support to certain regions and special interest groups. While the opportunity probably are not as clear cut as in the past there is still an incredibly large impending impact coming from retiring boomers who due to their pension structure are very vulnerable to take their retirement
The particular staffing industry is the most significant provider of talent in just about any economy and an excellent barometer of the health of our economy. Often the Canadian Staffing Index would suggest that demand has fluctuated by way of 2013 and into the 1st quarter of 2014 nevertheless is generally headed upwards at the same time gently. Here at Eagle we all saw an increase of 7 in people applying to us for work opportunities however we saw a significantly bigger increase in demand 20 for talent from companies. Put together with earlier info this would suggest that in the skilled space we are seeing a frequent greater demand for talent as well as a decrease in available skill.
