Ag­ing pop­u­la­tion in N.L. af­fect­ing labour mar­ket: BDC

The Gulf News (Port aux Basques) - - Community Calendar - BY ASH­LEY FITZ­PATRICK SALTWIRE NET­WORK

The re­port sug­gests busi­nesses with strong, clear hu­man re­sources poli­cies — for ex­am­ple for­mal­ized job de­scrip­tions, a stan­dard se­lec­tion process for new hires, an em­ployee man­ual, train­ing and ca­reer de­vel­op­ment pro­grams — are bet­ter po­si­tioned to defy the labour lim­i­ta­tions.

Armed with a new look into a tight­en­ing Cana­dian labour mar­ket, Busi­ness De­vel­op­ment Bank of Canada (BDC) chief econ­o­mist Pierre Cléroux says em­ploy­ers in New­found­land and Labrador need to be aware of what’s hap­pen­ing, and how they might re­spond.

A BDC sur­vey of 1,208 en­trepreneurs across the coun­try found 39 per cent had dif­fi­culty hir­ing new em­ploy­ees in the last year. But the chal­lenge is even greater when you look specif­i­cally at At­lantic Canada, Cléroux said.

It’s also ex­pected to get worse in the prov­ince, risk­ing busi­ness growth.

“The main rea­son for that is we have an ag­ing pop­u­la­tion, so there’s a lot of Cana­dian baby boomers that are re­tir­ing and there’s not as many young peo­ple en­ter­ing the work­force. So that’s the main rea­son why we have this im­bal­ance, I’ll guess we’ll say, and our labour force is shrink­ing, and as a re­sult it’s more dif­fi­cult for busi­nesses to find peo­ple,” he said Tues­day.

In New­found­land and Labrador, the num­ber of young peo­ple en­ter­ing the work­force is “not very large” and, na­tion­wide, the pinch is par­tic­u­larly painful for busi­nesses in the man­u­fac­tur­ing, retail and con­struc­tion sec­tors.

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