2023 Jobs Numbers Summary: Are You Feeling the Pressure?

December 27 2023

Without a doubt, the Canadian economy has seen some positive changes in 2023. Following the COVID-19 pandemic, most businesses were able to regain their footing and return to normalcy this year.

Every year, Statistics Canada provides us with an overview of the year’s performance. This year is no exception. In September, the Canadian economy added a total of 63,800 jobs, which is expected to be the biggest jump in employment in the past eight months. Canada also added many jobs for both part-time and full-time employment between February and August. Not only in terms of jobs, but this year has seen the return of some major Canadian brands like Zellers and Bed Bath & Beyond. According to the numbers, it’s safe to say that 2023 has been a pretty good year for employees and businesses alike.

Employment Insights

Employment increased in major industries, particularly in educational services, which saw a 66,000 job increase, and transportation and warehousing, which saw a 19,000 job increase. At the same time, it decreased in finance, insurance, real estate, rental and leasing, construction and information, as well as culture and recreation.

While full-time employment rose by 15,800, part-time employment increased by 48,000. Six provinces, including British Columbia, Quebec, Manitoba, Prince Edward Island, Saskatchewan, and Nova Scotia, also saw increases in employment.

HR Trends for 2023

In comparison to 2022, more hiring has been observed in industries like finance, insurance, and real estate. This uptick in hiring activity means that the competition to find and hire the best candidates has also increased. In response to the challenging job market, HR leaders are prioritizing the retention and recruitment of skilled employees, reports theHRdirector.com.

Strategies for Hiring the Cream of the Crop

In the past, if you were asked “how to find the best candidates?” your usual response would be through connections and referrals. However, we now have access to background checks that can assist us in conducting interviews and hiring the most qualified individuals, particularly those with clean records and the most potential.

Benefits of Background Checks for HR Leaders

According to 2023 numbers, it’s clear that the labour market will undoubtedly continue to expand and to draw in the best talent, you need a faster background check system. Background checks are a major factor in most hiring decisions, and having a systematized process will allow you to hire only the most qualified applicants.

About Triton

With Triton, you can get accurate, secure, and quick results for a wide range of checks. Accessible online or integrated into your in-house applicant tracking systems and HR software, our automated background check integration works with the same efficiency. For more information or to request background checks, visit tritoncanada.ca/business.