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Here are the current macro trends in the Canadian economy and how they
will affect IT employment and rates going into the summer.
The Good News
There is still positive momentum on new hires across the North American
economy, the Monster staffing index peaked at 122 in February, as
compared to 95 last February. Showing across the board growth in hiring
activity.
Canada's hotspot for new job creation is the financial services sector
with a 6% increase in employment growth over 2004.
Commodity companies still have more room to thrive. Oil, Gas, Mining
and other commodity companies have lots more room to grow in the current
global commodity demand according to the recent Andersen Economic
Report (AEC).
The Cautious News
Ipsos Reid shows that IT spending, hardware, infrastructure, IT
applications, security, services is down $44.6 billion in Canada a 4.4% drop
from $46.7 billion in 2003.
Canada's GDP growth is slowing down, only 1.7% growth in Q4, as GDP
goes so does IT demand. With inflation at 1.5% this indicates a slowing
down in overall hiring for the summer.
The Warning News
With constriction in construction and consumer spending and high
inventories, the Canadian manufacturing sector may be on the brink of a
recession, especially in Ontario, according to AEC. Watch for the signs of
change if you are currently working for a manufacturing client.
The tourism industry in Canada is also under pressure due to the higher
Canadian dollar and subsequent drop in US tourists to Canada. Another
industry to approach cautiously for jobs.
source: S.i. News
will affect IT employment and rates going into the summer.
The Good News
There is still positive momentum on new hires across the North American
economy, the Monster staffing index peaked at 122 in February, as
compared to 95 last February. Showing across the board growth in hiring
activity.
Canada's hotspot for new job creation is the financial services sector
with a 6% increase in employment growth over 2004.
Commodity companies still have more room to thrive. Oil, Gas, Mining
and other commodity companies have lots more room to grow in the current
global commodity demand according to the recent Andersen Economic
Report (AEC).
The Cautious News
Ipsos Reid shows that IT spending, hardware, infrastructure, IT
applications, security, services is down $44.6 billion in Canada a 4.4% drop
from $46.7 billion in 2003.
Canada's GDP growth is slowing down, only 1.7% growth in Q4, as GDP
goes so does IT demand. With inflation at 1.5% this indicates a slowing
down in overall hiring for the summer.
The Warning News
With constriction in construction and consumer spending and high
inventories, the Canadian manufacturing sector may be on the brink of a
recession, especially in Ontario, according to AEC. Watch for the signs of
change if you are currently working for a manufacturing client.
The tourism industry in Canada is also under pressure due to the higher
Canadian dollar and subsequent drop in US tourists to Canada. Another
industry to approach cautiously for jobs.
source: S.i. News
