When Jerome Jones was looking for a job in mid-2022, he had about 15 interviews a week, mostly for remote roles in project management, sales and leadership. He got a position fairly quickly, but was laid off in September when his company restructured.
People who looked for jobs last year, or even earlier this year, will be surprised at how much has changed. The era when workers could score big raises by changing jobs, and companies competed for staff by offering flexibility and perks, seems to be ending, says Toronto career coach and tech recruiter Jermaine L. Murray.
The Conference Board of Canada’s most recent Canadian Hiring Index, which is published monthly, suggests finding workers is getting easier. It also found wage growth is decelerating – although at a slower pace than experts expected, Conference Board economist Liam Daly says. Statistics Canada data show unemployment is affecting young workers most, something Mr. Murray says he is seeing when it comes to people searching for entry-level jobs.
That said, if the right job comes up, “I’m not telling them to sit tight. I’m telling them, ‘It should take a lot more to move you,’ ” he says. “You need to ask them how they know they’re going to be in business in six months. ‘How can you give me assurances that you’re not going to lay me off?’ ” For many of financial planner Andrea Thompson’s clients, the idea of searching for a job in times when they’re already struggling with inflation and interest rates is too stressful to even consider. But Ms. Thompson, who’s based in Mississauga, says that for people whose job is seriously affecting their mental health, it can be worth it to take the risk.