jesse | August 20, 2019

Worker Scarcity in Canada and What Businesses Can Do to Respond | BDC Study

Labour shortages in Canada are, in part, due to the strong demand for workers generated by robust economic growth here and around the world. Real gross domestic product (GDP) is expected to grow globally and in Canada by 3.9% and 2.0%, respectively, in 2018. The expansion should continue into 2020, spurring continued healthy demand for workers.

On the supply side, the growth of Canada’s workforce has fallen since 2000 and, despite a recent bump, the downward trend is expected to continue. The decline is a result of the large baby-boom generation heading to retirement. Although immigration should ease the situation, growth in Canada’s workforce is expected to stay close to zero in the years ahead.

Screen Shot 2019-08-20 at 3.22.33 PM

Close to 40% of small and medium-sized businesses are already having difficulty finding new workers, according to our survey. Figure 1 shows Canada’s labour force growth rates since 2000 and projected growth rates to 2030. Notice that the growth rates are expected to remain below 0.2% for the next decade.

BDC Study Graphg

The bottom line: Don’t expect labour shortages to get better.

The findings in this study are based on a BDC survey of 1,208 entrepreneurs. The survey asked the owners of small and medium-sized businesses a series of questions to assess the impact of labour shortages on their company. They also conducted eight telephone interviews with entrepreneurs to better understand the impact of labour shortages.

#BDC #labourshortage #SBXConnected #SBX2019 #sandboxcentre #sandblogx

Recent Posts

NEWS RELEASE Sandbox Centre Launches Partnership with Canada’s Trade Accelerator Program (TAP) to Overcome Export […]
  The research shows that technology investments and business systems changes (both at 49%) are the […]
  In another contribution to international climate change objectives, Canada’s export credit agency has issued […]
Acquiring more than one business increases chances of higher revenue growth by 66% Key findings: Entrepreneurs who […]
  New research has confirmed that family-owned businesses have a significant impact on Canada’s economy. […]
  Are workers worried they’ll be displaced by robots in the future? Not for the […]
  ADP Canada, the leader in Human Capital Management technologies for Canadian businesses announced that […]
  A recent survey* by Randstad Canada, the Canadian leader for staffing, recruitment and HR […]
  BDC, Canada’s bank for entrepreneurs, has been named a “Best For The World 2019” […]


Sandbox, where business and community are united for people & companies to grow through a culture of innovation.

Join Our Community

#sandboxcentre #SBXconnected #SBX2019


Copyright © 2020 Sandbox Centre. All Rights Reserved

Website Designed by NetGain SEO Logo