September 30, 2021
Canadian businesses are scrambling to find workers in the wake of the pandemic, with 55% of small and medium-sized businesses struggling to hire the workers they need, according to a study released this week by the Business Development Bank of Canada.
“As the economy recovers, this labor shortage is reaching worrying highs, jeopardizing economic growth and compromising the competitiveness of Canadian businesses,” said Pierre Cléroux, vice-president of research and economist in chief at BDC.
The labor shortage was a problem even before Covid-19, but the pandemic has exacerbated it, according to BDC.
The difficulty of hiring in the Covid era is “the lack of candidates”, according to 45% of those questioned, and “the lack of technical or non-required skills”, according to 44%.
Due to the labor shortage, 44% of companies have delayed or are unable to deliver orders to customers.
The study was based on a survey of 1,251 Canadian entrepreneurs.
The BDC also surveyed 3,000 Canadians about their jobs. This survey found that 20% of workers who lost their jobs during the pandemic have changed fields of employment. It also found that 57% cited the desire for higher wages as the main reason they will choose to change jobs next year; this was followed by a desire for more benefits at 32%.
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