Canada's Small Biz Least Keen to Hire in 3 Years 🚫👔

[Muichiro.T]

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.

 

[diwataaa]

It's concerning to see the drop in small businesses planning to increase their staff, reaching the lowest level since January 2021. While it's somewhat reassuring that the majority of firms intend to maintain their current workforce levels, the fact that fewer businesses are looking to expand their teams could indicate broader economic challenges.

 

[Ruth_]

Canadian small businesses are hitting the hiring brakes, with only 13% planning to boost staff soon—down from last year’s 20%—while most keep calm and carry on, according to the Canadian Federation of Independent Business survey.

 

[Muichiro.T]

It's concerning to see the drop in small businesses planning to increase their staff, reaching the lowest level since January 2021. While it's somewhat reassuring that the majority of firms intend to maintain their current workforce levels, the fact that fewer businesses are looking to expand their teams could indicate broader economic challenges.

Wow, it's a bit worrying that small businesses aren't hiring as much—lowest since Jan 2021! But hey, at least most are keeping their staff steady, which is a bit reassuring. Thanks for the heads-up and suggestions!

 

[Muichiro.T]

Canadian small businesses are hitting the hiring brakes, with only 13% planning to boost staff soon—down from last year’s 20%—while most keep calm and carry on, according to the Canadian Federation of Independent Business survey.

Wow, that's quite a dip in hiring plans for Canadian small businesses, dropping from 20% to just 13%! It seems like most are just staying steady for now. Thanks for sharing this interesting update!