The coronavirus (COVID-19) pandemic has made waves across the globe. In Canada, the pandemic has already had drastic effects on the labour market, and it appears likely to have far-flung effects on the nation’s employment figures in the foreseeable future.
3 Labour Market Trends to Watch
If you want to land your dream job in Canada, it helps to study the labour market closely. In doing so, you can tailor your job search accordingly and uncover ways to put yourself in the optimal position to secure your ideal role.
Now, let’s look at three labour market trends that could impact your ability to find your ideal role.
1. Organisations Look to Restore Their Operations to Pre-Pandemic Levels
The pandemic has led many Canadian organizations to furlough or lay off staff or let employees work remotely. In these instances, it has forced organizations to take a step back and reevaluate their day-to-day operations. It has also led organizations to experience revenue losses, particularly as consumer spending has declined during the pandemic.
Although COVID-19 vaccinations have begun, Canadian organizations will remain reluctant to return to “business as usual” until the pandemic is fully resolved. Thus, if you expect to land an in-office role with a particular organization, it may take some time before this becomes an option. If you are exploring remote work opportunities, however, you may find lots of options become available.
2. The Canadian Economy’s Potential Output Growth Is Declining
The International Monetary Fund indicates it will take six years before the Canadian economy is once again operating at its full potential. This is due to the fact that Canadian’s gross domestic product (GDP) has declined since April. The GDP may continue to plummet until the pandemic ends, too.
Organizations are exploring ways to increase their output, so they can remain operational during the pandemic. Meanwhile, these organizations may increasingly look for skilled professionals who can deliver meaningful contributions from the get-go. As these organizations add top talent, they can increase their output, drive revenue growth, and contribute to the recovery of Canada’s economy.
3. The Labour Market Remains Under Pressure
Uncertainty persists around the labour market, and it is putting pressure on organizations and their employees. As such, organizations are increasingly pursuing qualified professionals to fill all types of roles. These organizations want talent that can deliver immediate and long-lasting contributions. So, they are likely to pursue candidates with extensive industry skills and experience.
For job seekers, now may be an ideal time to enroll in courses and training programs in their respective industries. By earning certifications and building their skill sets, these job seekers are well-equipped to stand out to potential employers. Plus, these job seekers can boost the likelihood of landing the best jobs and maximizing their earnings.
Pursue a Job in a Challenging Canadian Labour Market
Employment Professionals Canada helps job seekers pursue temporary and permanent roles at a wide range of organizations. We offer job placement assistance to candidates of all skill and experience levels, and we are happy to support you as you seek your ideal role. To learn more, please contact us today.