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A July survey by the Canadian Federation of Independent Business said that the share of small businesses intending to increase their staff in the duration of the next three to four months decreased to the lowest level since January 2021 – 13%. This represents a decrease from the situation recorded in the previous year where more than one-fifth of the companies planned to increase the number of employees. However, this has not manifested into more layoffs as nearly three quarters of the firms intend to have no significant changes in their workforce numbers. Traditionally, rough estimates show that 65% of the small business entities have maintained a consistent employment portfolio. It is stated that about 15% of firms plan to reduce employees, which falls in the regular trend. Thus the Bank of Canada notes, increased migration accounts for more unemployed Canadians today but firms have been unable to create enough jobs many of which are occupied by young Canadians who now have greater difficulty finding work.