A new survey has found the fourth quarter of 2016 could be a positive one for job seekers in London.
The latest Manpower Employment Outlook Survey has found 20 per cent of employers plan to hire for the upcoming quarter, between October and December while seven per cent anticipate cutbacks.
Another 73 per cent of employers plan to maintain their current staffing levels in the upcoming quarter.
The survey comes less than a week after Stats Canada updated jobless figures for London-St. Thomas, saying the local unemployment rate stood at 7.2 per cent.
The jobless rate in London has risen steadily since the start of the year, it started at 5.8 per cent in January and quickly rose from there.
“With seasonal variations removed from the data, London’s fourth quarter Net Employment Outlook of 11 per cent is a three percentage point increase when compared to the previous quarterly Outlook,” said Nikki Sharpley of Manpower’s London office.
According to the survey, it’s a 13 per cent decrease from the outlook reported during the same time last year, indicating a hopeful hiring pace for the upcoming months.
Nationally, Canadian employers expect a mild hiring climate for job seekers in the fourth quarter of 2016, with employers in the finance, insurance and real estate sector reporting the strongest job prospects according to the survey.
The survey of over 1,900 employers across Canada reveals that 14 per cent plan to increase their staffing levels in the fourth quarter of 2016, while nine per cent anticipate cutbacks. Of the employers surveyed, 76 per cent expect their current staffing levels to remain unchanged and one per cent are unsure about their hiring intentions for the upcoming quarter.
Stats Canada’s most recent unemployment report found the Canadian job market rebounded last month, clawing back some of the 31,200 jobs that were lost in July. 26,200 net new jobs were created in August, however the unemployment rate rose to 7 per cent in August.
“The hiring climate is expected to be modest heading into the fourth quarter this year,” said Darlene Minatel, Vice President, Manpower Canada Operations & Strategic Accounts. “It’s hard to ignore the impact that the sustained lower price of oil has had on the economy. However, there are certainly some bright spots. The real estate sector is very strong, especially in the red-hot markets of Toronto and Vancouver.”