Canada is experiencing the highest level of “hiring hopefulness” since 1998, according to a survey by the Bank of Canada. Despite continuing financial challenges in the US and the eurozone, Canadian businesses are optimistic about the next 12 months.
In more than half of the companies surveyed, 57% are expecting to hire new workers over the next year, 25% of them are facing difficulties finding workers and 49% of the firms expect sales to grow over the next 12 months.
As a result, more companies are planning to invest in the expansion of their businesses like machinery and equipment and most importantly – workers. A pickup in this type of business investment is crucial at this stage, economists say. It is the third leg of the stool needed for a healthy economy. In Canada’s case, the othe two legs, the public sector and consumer spending, have been going strong since the recovery officially began two years, as reported in an article in the business section of the Toronto Star.

