Frustrated job seekers may soon be in luck as a swath of openings are expected in the labour market.

Nearly 60 per cent of Canadian businesses plan to increase their number of permanent positions before the end of the year, according to a recent survey from Robert Half Canada Inc.

Forty-five per cent of hiring managers also expect to be on the hunt for contract workers with specialized skills.

“Many organizations are ready to advance important business priorities, but successful execution relies on having the right skills in place,” Koula Vasilopoulos, senior managing director of Robert Half Canada, said in a news release.

“Employers are broadening their talent strategies, leveraging both permanent and contract professionals to access critical skills and keep strategic projects moving forward.”

The legal sector is expected to make the biggest push for new employees, with 75 per cent of hiring managers in the field planning to add more staff this year. Meanwhile, 66 per cent of hiring managers in marketing expect to do the same, followed by 64 per cent in human resources companies, and 59 per cent in finance.

This comes as Canada’s unemployment rate has fallen every month since April, with June’s rate coming in at 6.5 per cent. Statistics Canada will release its July report next Friday.

“Following May’s exceptionally strong gain, hiring moderated in June, and the unemployment rate returned to where it began the year,” TD Bank economist Maria Solovieva said earlier this month. “Pulling back the lens, Canada’s labour market has made modest, but positive progress over the past year.”

Still, 53 per cent of businesses are finding it more difficult to find people with the right skills for what they’re looking for.

Skills shortages have resulted in project delays for 56 per cent of hiring managers, while 48 per cent had to flat out cancel a project due to a lack of necessary qualifications.

Technical skills, industry-specific knowledge and leadership were the competencies most difficult for recruiters to find, according to the report.

“Finding professionals with specialized, in-demand skills remains a challenge for many organizations, and employers are increasingly seeking flexible ways to address talent gaps,” Vasilopoulos said.

When such skills aren’t available in the talent pool, 37 per cent of managers said they prioritize “high-potential” candidates and then invest in their development.

Another 56 per cent of respondents said they intend to seek help from staffing firms to access the specialized skills they need in a hire.

“A staffing partner can provide access to skilled professionals who can contribute quickly, maintain business momentum and support long-term future growth,” Vasilopoulos said.

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The U.S. bond market is not overly optimistic that U.S. Federal Reserve Chair Kevin Warsh can get ahold of inflation fast enough to deliver on his promises.

On Wednesday, the Fed held its policy rates for the seventh consecutive session, and investors responded by sending the bond yield up as much as 14 basis points to a 19-year high.

The move shows investors’ growing concern over Warsh’s ability to tackle U.S. inflation, which has run above the Fed’s target for the past five years.

Read more here.

  • Today’s Data: Canada’s GDP for May, Ottawa’s fiscal monitor for April and May (expected), U.S. employment cost index for the second quarter
  • Earnings: ExxonMobil Holdings Corp., Chevron Corp., Enbridge Inc., Colgate-Palmolive Co., Cameco Corp., Imperial Oil Ltd., Moderna Inc., Magna International Inc.

  • Bank of Canada expects economic rebound, decelerating inflation rate but risks remain
  • I fear my parents, on CPP and OAS, could go into debt. How can I help?
  • No cancellations yet as WestJet flight attendants serve strike notice
  • Saskatchewan exporters still opt for Vancouver shipping route despite a newer, closer alternative

For the children of older Canadians, it can be stressful wondering if they have enough money to live out their lives. But what do you do if they don’t want to talk about it? Columnist Mary Castillo offers some suggestions on broaching this difficult topic and what to do if you find out your parents’ finances are tighter than you thought.

Read more here.

Interested in energy? The subscriber-only FP West: Energy Insider newsletter brings you exclusive reporting and in-depth analysis on one of the country’s most important sectors. Sign up here.

Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).

McLister on mortgages

Want to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.

Financial Post on YouTube

Visit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.

Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff and Bloomberg.

Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@postmedia.com .

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