Canadian companies to reverse hiring freezes soon: report
There may be little doubt that the recession has begun to fade, but what does that really mean?
If you pore over the Wall Street Journal, you’ll see encouraging reports of stronger financial markets and a rise in GDP and another in consumer spending, which are great. Yet, again, how are we to make sense of all that?
The Average Joe, known now is many circles as the Average Underworked Joe, doesn’t particularly care about the price of gold because the price of gold doesn’t have an immediate-enough impact on his bottom line.
The Average Underworked Joe just wants a full-time job. Then he’ll believe the recession’s done.
Well, news today from the Financial Post might be that front-line story Joe’s been waiting for.
According to the Post, a new survey by consulting firm Watson Wyatt suggests more than one-third (35%) of Canadian companies expect to reverse hiring freezes “in the coming months.”
Another half (53%) of local businesses, the paper says, will resume pay increases as the recovery continues.
“As companies step gingerly toward recovery, they will continue to reverse many of the changes made earlier and reinstate some of the cuts to compensation and benefit programs,” one Watson Wyatt source tells the Post.
Now, granted, this doesn’t exactly mean the second coming of the Industrial Revolution and, yes, this is based on data of only 72 companies surveyed by Watson Wyatt.
But modesty may be our ally here, in the sense that a gradual pace of recovery could lead us to believe the healing is no fluke.
At the very least, this is the kind of news the laid-off/underemployed want to hear, especially those considering long-term career planning.
Yes, we’re talking to you too, recent graduates. Get polishing those resumes.
By Jason Buckland, MSN Money
Posted by: Canadian Jane | Nov 18, 2021 12:59:47 AM
Humm... I live in London, Ontario where we have the second largest unemployment rate... not feeling the progress or recovery I have to say...
Posted by: Dan B. | Nov 18, 2021 7:44:56 AM
Hi,
I live in Guelph,where another Icon in our industrial base is closing and moving to Mexico.
In the last 5 years we have lost over 5000 jobs due to plant closing and moves south of the border or oversea!
Anyone know where those people find jobs...other then part-time greeters at Wal-Mart?
Wake up politicans! These jobs are not coming back.
Maybe we should all move to Mexico or India?
Dan
Posted by: Rick Hillier | Nov 18, 2021 9:17:15 AM
I think that all of these companies moving their operations from Canada or the US should forget about selling their products here as well. Let them sell their wares in China or Mexico for prices relative to what the employees are being paid there.
Or at the very least, our government should apply a tarriff to their products that reflect the difference in the average standard of living between Canada and the country of origin.
All this corporate greed is going to achieve is to make countries like China into superpowers while we become a third world country.
Posted by: Mike Chernishenko | Nov 18, 2021 11:05:13 AM
I live in St. Catharines (always in last or close to last place in a downturn) I have a couple of Masters degrees (Science and Business) and would expect to reenter the workforce ahead of the wave SO I would consider getting back to work as a leading indicator and I have not seen anything promising after sending out over 900 resumes (globally). I will believe it when I see it!
Posted by: Croos While You Can | Nov 18, 2021 4:08:46 PM
Why would companies reverse a hiring freeze? The poor shlumps that are left have proved 6 people can do the work of 10 and still have coffee breaks. Fire one of the slackers to put the fear of God into the five left. They will do the work of 15 - properly motivated.
Posted by: Sir Richard | Nov 19, 2021 9:00:35 AM
Nothing surprises me any more. What balderdash to say the hiring freeze will melt and new hirings will start very shortly. Corporations have smashed and bashed unions to the point the union members have hat in hand when coming to the table and have given up wage concessions, too.
Where are these prognosticaters coming from, what part of the world do they live in? Companies have no need to hire more staff as they have successfully brow beaten the existing and remaining staff to do their own work and the work of ten other staff members. That is the employers' proof no more staff are needed. Meanwhile, those who have a job are over worked and stressed out continue to do what is being dumped on them until there is a meltdown. At that point the corporations know enough not to push any further but retain the staus quo. What a terrible position to be in for an employee.
What really irks me is the blatant use of age discrimination and race discrimination found in the work force today. I have been told directly to my face "You are too old to be hired and no longer a contributing member of society, get out of here". Similarly, I have been relieved of my duties and shown the door only to learn the next day the workers had given the employer an ultimatum, "We will not work for a whiteman, get rid of him". This is where I welcome input from our politicians to address the high rate of unemployment in the country.
as a
Posted by: Steve | Nov 19, 2021 9:12:18 AM
Perhaps my dictionary has a different definition for soon. The recession was caused by too much consumer spending & not enough saving. We have 'rescued' ourselves with massive government spending around the world. How will higher taxes everywhere encourage people to spend more and build the economy enough to need more staff?
Posted by: No Fool | Nov 19, 2021 9:14:41 AM
More balderdash!
For most of us it's too little too late. There is no recovery and it's just more economic propaganda to control the masses. They still believe they can baffle us. Know what? We just don't care anymore.
Posted by: young mom 2009 | Nov 22, 2021 4:30:08 PM
I live in Eastern Ontario and I do not see any hiring progress, maybe in call centre Startek....... What I see is laiding people off and or cutting their hours , mostly people work part time jobs here , one or two part time jobs to be able to pay bills , food and gas. As I remember from math, if we hit recession next come crises, we cannot skip this step, so maybe this is what is going on now, just nobody talkes about it , it will be hard especially after July 1, 2021 when our Ontario government brings next taxes to us. ........Well, after crises there comes better times again .....so people keep hoping in better times..