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April 30, 2021

Canadian businesses looking to hire new grads

Now that school is out for college and university students, the race is on to find a job.

Even though employment fell by 55,000 full-time jobs in March, it is up by 203,000 over last year.

But even better news is that almost half of Canadian businesses plan on hiring students or recent graduates this year, according to a new report by BMO Bank of Montreal.

In fact, one in five anticipate hiring recent graduates for permanent positions while 30 percent more are planning on hiring summer students.

And that's great news. Especially if you're like me and have a child graduating from high school this spring and seeking summer employment.

The outlook ranges from coast to coast, with brighter prospects for permanent employment in Ontario (26 per cent); followed by Alberta (23 per cent); Quebec (21 per cent); British Columbia (16 per cent); the Prairies (13 per cent); and the Atlantic provinces (11 per cent).

The sectors looking to hire students or grads as paid interns include business/financial (37 per cent); retail (25 per cent); and the construction industry (22 per cent).

Those looking to hire summer students are the service and manufacturing sectors (35 per cent) and the agricultural sector (34 per cent).

And the sector most interested in hiring a recent graduate as a permanent employee is the manufacturing industry (25 per cent); service industry (24 per cent); and business/financial sector (23 per cent).

Steve Murphy, senior vice-president, Commercial Banking, BMO Bank of Montreal, says, "We've seen more companies investing in employee training and development - in conjunction with creating long-term plans - which will help business owners ensure they have a supply of talented employees who are prepared to drive performance."

He says it's encouraging to see so many companies looking to hire students or recent graduates and adds, "These organizations recognize that this group of Canadians bring a wealth of talent and passion into the workforce."

I think these Canadian companies are definitely on the right track -- by investing in our young people today, they will help a nation prosper in the future.

By Donna Donaldson, MSN Money

Do you think Canadian companies are doing enough to hire recent graduates? 



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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

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The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...