Oct 19, 2021

Andy AdamsAccording to a recent story in Bloomberg, Canada's surprise jobs surge that was reported in early October, recoups the pandemic losses, but our full recovery is still a way off.

The story noted that the Canadian economy added a net 157,100 jobs in September, all of them accounted for by full-time positions. In fact, you could say that the recovery from the COVID-19 recession is almost complete, judging by the latest jobs report. Emphasis on “almost.” 

Statistics Canada said on Oct. 8, that Canada’s economy added 157,000 jobs in September, an unexpected surge that pushed employment to 19.131 million, compared with 19.13 million on the eve of the first wave of COVID-19 infections in February 2020.

It’s been a fast recovery. The agency’s data show Canada recouped the three million jobs lost during the pandemic in 19 months, compared with the 27 months it took to claw back the 411,000 positions lost during the Great Recession, an argument in favour of the aggressive economic rescue packages assembled by the Bank of Canada and Justin Trudeau’s government. On the other hand, we are sure to have a significant budget deficit and continued ultra-low interest rates may be sowing the seeds of a future financial crisis. But, if the mission was to avoid a painfully slow recovery, the strategy seems to have worked.

Recently, we have written in this column about the supply chain and product shortages, and while Canada’s employment picture is looking good, businesses are far from being back to normal. That may include your marine industry business.

For years, boating has been challenged to attract sufficient workers and we suspect that is still the case.

Indications are that relatively highly skilled and highly paid workers are now doing better than they did before the crisis, but Statistics Canada’s latest hiring data suggest that there were 654,000 fewer workers making less than $20 per hour in September than there were at the start of the pandemic. At this point, the recovery seems to be far from complete, and it’s also become imbalanced.

One of the indicators the governor watches most closely is the distribution of hiring by wage rates. Employment of workers who make more than $30 per hour was 14 per cent above its pre-pandemic level in September, and it was eight per cent higher for those who earn between $20 and $29.99.

But employment of workers lower on the pay ladder took a step back. The number of people earning between $12 per hour and $20 per hour was still 11 per cent below what it was in February 2020, and long-term unemployment remains a significant worry. 

What does this mean to the boat business? Does your business have the people and skills that you need to succeed in the coming year?

With the end of the season in most Canadian markets, are you now loosing people, or can you finally attract more staff?

Boating Industry Canada will plan a News Week Employment survey in the coming weeks. We hope you will contribute your data to help us paint a national employment picture for the coming year.

Andy Adams - Editor 

  • Prev
Help us congratulate our Level 4 MST apprentices on passing their ITA Certificate of Qualification ...
Since 1995, Safe Boating Awareness Week has been the mainstay of boating safety to over 16 million ...
The Great Lakes Public Forum will be held in Niagara Falls, Ontario, September 27 - September 29. ...
Offered by AMI, the Basic Marina Operations Training Guide is a tool for entry-level marina ...
Boating industry Canada News Week Digest Shows and Events for 2022
IBEX 365, which launched last spring, continues to connect buyers and suppliers by bringing the ...
Sea Ray, Bayliner and Heyday recently came together in St. Augustine, Florida for a week-long, ...
It used to be, that in order to improve employee performance, managers studied the numbers, ...
Eliminating the traditional socket eliminates any opportunity for water to collect inside the ...
Boating Industry Canada (BIC) is proud to introduce a new Canadian marine education series. ...

Boating Industry Canada News Week

 

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you're looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here

 

 

 

 

 

Marine Products

  • Prev
ePropulsion, a market challenger in marine electric propulsion systems and services, has expanded ...
Serious cruising boaters know that the most interesting ports of call are often served by smaller ...
A new low profile, concealed, stainless steel sundeck latch is now available to boat builders from ...
Unlike standard boat grime that's easily removed with a soapy deck brush, oily black soot is ...
Lithium-ion batteries are becoming increasingly popular for their ability to deliver power from a ...
HP Watermakers, the Milan-based brand of semi- and fully automatic watermakers for leisure boats ...
HARMAN International, a wholly-owned subsidiary of Samsung Electronics Co., Ltd., focused on ...
After washing a boat, it's important to dry it before unsightly water spots develop. Old towels and ...
SeaSucker's innovative Vacuum Mount is the engine that drives its products. And now, with its ...
The new VMH 35 Outboard Engine Kit from Veratron tracks a vast amount of propulsion, battery and ...

 

Seasucker Solves IssuesSeaSucker's innovative Vacuum Mount is the engine that drives its products. And now, with its Powered by SeaSucker program, the company collaborates with fellow manufacturers to incorporate its mounts into their designs, solving specific product challenges.

Vacuum Mounts aren't mere suction cups. SeaSucker's 4.5" model secures 120 lbs. to any rigid, non-porous surface for days on end; its 6" version, an astounding 210 lbs. Available in black or white with standard or low-profile housings, they can be deployed vertically, horizontally or even upside down with no effect on holding power. 

 

Read More


 

People

  • Prev
MasterCraft Boat Company, a subsidiary of MasterCraft Boat Holdings Inc. (NASDAQ: MCFT), announced ...
The Boating Ontario Association is excited to announce and welcome Lesley Hough as our new ...
Volvo Penta welcomes Lennart Börjesson as a new member of its Executive Management Group. As of 1 ...
Everglades Boats, an industry-leading designer and builder of premium offshore fishing boats, ...
Boating Ontario has just shared the news of Douglas Barnier passing away peacefully with his family ...
Volvo Penta welcomes Fredrik Högberg as a new member of its Executive Management Group. As of 15 ...
For the past 23 years there has been no greater contributor to sailing and power boating in Nova ...
Marine Surveys Canada would like to welcome Craig Bjarnason as the newest member of our team of ...
Boating Atlantic held their annual general meeting on March 2nd, 2022 and elected Eric Stanley of ...
McLaughlin, John Felix - June 1, 1941- February 3, 2022