Workers optimistic, but cautious about jobs, economy in 2014
Randstad survey reveals Canadian workers are confident their companies will perform better this year.
TORONTO – While 2013 ended on a down note, with the loss of 48,000 jobs across Canada in December, a new study conducted by Ipsos-Reid on behalf of Randstad Canada shows that Canadian workers are entering 2014 with a cautiously optimistic outlook for the job market and economy overall this year.
The Randstad Canada Labour Trends Study 2014, which polled 2,076 Canadian employees and managers on their expectations for 2014, revealed that three-in-ten respondents (30%) said they feel more confident in the strength of the Canadian economy than they were entering 2013, while another 50% said they felt about the same amount of confidence heading into this year as they did last.
Those in Alberta (35%) and BC (32%) were the most confident in the strength of the Canadian economy heading into 2014, while those in Quebec (27%) and Atlantic Canada (22%) were the least.
While 25% of respondents felt more confident in the job market heading into this year, slightly more (27%) said they actually feel less confident this year than they did at the beginning of last year.
Those in managerial or executive positions are significantly more confident (30.3%) than their below-manager counterparts (19.2%). Younger workers (under the age of 35) are also much more confident in the job market this year (30.5%) than those who are well into their careers (35-54 – 21.9%).
As with expectations for the strength of the economy, those living in Western Canada (British Columbia and Alberta) are substantially more confident in the job market this year (30.4% and 31.3% respectively) than those on the East Coast and in Quebec (18.1% and 23.3% respectively). Those living in Atlantic Canada (33.8%) and Ontario (31.9%) are the most likely to feel less confident in the job market in 2014.
One-third (33%) said they expect it will be more difficult to find a new job in 2014, with only one-in-five (20%) expecting it be an easier task than last year. Three-in-ten (31%) currently employed Canadians say they are likely to look for a new job in 2014.
Women in particular are more concerned with ease of mobility between jobs this year – while nearly half feel that their prospects of finding a new job will be about the same as 2013, almost two-in-five (38%) feel it will be more difficult for job seekers to find a new job this year than it was last.
Canadians are especially optimistic when it comes to their organizations’ performance in the coming year. Nearly nine-in-ten (89%) of those polled expect their company/employer to perform better (37%) or about the same (52%) financially this year when compared to 2013, with only 11% anticipating a worse year financially in 2014. Those in managerial and executive positions (45%) are much more likely to expect their organization’s to perform better financially in 2014 than employees (29%).
As a result, more than half (51%) of those polled said they expect to receive a raise in 2014, with those in Quebec (58%) and Alberta (57%) feeling much more confident in receiving a salary increase than those in Ontario (46%) or BC (48%).