Employers less optimistic amid lockdowns, restrictions

January 20, 2022

With renewed lockdowns and restrictions, employers are showing less optimism, according to a Canadian Federation of Independent Business (CFIB) survey.

Three in 10 (31 per cent) say their business is in bad shape, while 29 per cent estimate it is in good shape. In December, those figures were inversed, with only 19 per cent saying their business was in bad shape and 39 per cent saying their business was in good shape.

Also, 24 per cent of business owners think they will reduce full-time staff in the next three months while only 16 per cent plan to hire.

“The last time optimism was this low was in the spring of 2020. We are once again seeing negative staffing plans and more owners who say their business is in bad shape than those who say it is in good shape,” says Simon Gaudreault, vice-president of national research at CFIB. “This really underlines how precarious the situation is for a lot of small businesses.”

CFIB’s three-month index is now 34.5, down by more than 10 points, while the 12-month outlook is 52.4, the lowest reading since April 2020, found the survey of 503 CFIB members conducted on Jan. 6 and 7, 2022.

Source: HR Reporter