Canadians expecting a raise: Poll
A man checks his wallet. (SHUTTERSTOCK)
Recession fear is dying down in Canada as folks are feeling optimistic about their job security and their companies' growth prospects, a new poll shows. Many are even expecting raises.
A Bank of Montreal poll found 41% of Canadians believe their companies are growing and will hire this year.
Two-thirds are feeling comfortable about their job security, up 13 percentage points from last year.
And 40% expect either a raise or a promotion this year, up 11 percentage points from 2011.
"Over the past year we have seen an increasing number of companies show a willingness to look at how they can grow their business through making strategic investments in upgrading technology and processes, opening up new markets and investing in their people," said Cathy Pin, vice-president of BMO commercial banking, in a press release.
Canadians are right to feel good about the future, BMO says, as Canada's unemployment rate is one percentage point lower than the U.S.'s, and four lower than Europe's.
"Canadian job security is fairly good, with our 7.3% unemployment rate below historic norms," said Sal Guatieri, a BMO senior economist. "Canadians should expect wages to rise modestly faster than inflation, supporting household purchasing power, with the strongest gains in Alberta and Saskatchewan."
Workers in oil-rich Alberta are the most confident about their employers' prospects, with 60% expecting their company to hire this year.
On the other side of the country, Atlantic Canadians were the most skeptical, with 28% expecting layoffs.