New data from the Bank of Canada has revealed that workers are more willing to leave their jobs in search of new work as businesses begin to work harder to attract and retain talent, Global News reports.
Those businesses may have an uphill battle on their hands. The Bank of Canada survey showed that workers are currently more likely to quit their jobs for another position - in their search for better working hours and pay - or change industry altogether than to wait for their present circumstances to improve.
Meanwhile, businesses reportedly say they are having a harder time finding workers, particularly in high-contact service industries and are subsequently more willing to offer higher wages.
The firms that took part in the central bank’s quarterly business outlook survey say they intend to pass on the higher payroll costs to customers.
Companies also say they are going to have to pass on higher shipping costs from supply-chain disruptions. A situation they don’t expect to see abating until the second half of 2022.
Combined, almost half of the businesses surveyed expect the pace of price increases to stay above three per cent over the next two years.
Source: Global News
New data from the Bank of Canada has revealed that workers are more willing to leave their jobs in search of new work as businesses begin to work harder to attract and retain talent, Global News reports.
Those businesses may have an uphill battle on their hands. The Bank of Canada survey showed that workers are currently more likely to quit their jobs for another position - in their search for better working hours and pay - or change industry altogether than to wait for their present circumstances to improve.
Meanwhile, businesses reportedly say they are having a harder time finding workers, particularly in high-contact service industries and are subsequently more willing to offer higher wages.
The firms that took part in the central bank’s quarterly business outlook survey say they intend to pass on the higher payroll costs to customers.
Companies also say they are going to have to pass on higher shipping costs from supply-chain disruptions. A situation they don’t expect to see abating until the second half of 2022.
Combined, almost half of the businesses surveyed expect the pace of price increases to stay above three per cent over the next two years.
Source: Global News