Firms See Increasing Labor Shortages and Wage Pressures: Bank of Canada Survey

Firms See Increasing Labor Shortages and Wage Pressures: Bank of Canada Survey
A sign advertising available jobs at the Clocktower Brew Pub hangs in a window in Ottawa, Ontario, Canada, on Nov. 9, 2017. Chris Wattie/Reuters
Reuters
Updated:

OTTAWA—Canadian firms see labor shortages intensifying and wage pressure increasing, with strong demand growth and supply chain constraints putting upward pressure on prices, a regular Bank of Canada survey said on Monday.

The central bank’s Business Outlook Survey Indicator reached its highest level on record in the fourth quarter, which was conducted before the Omicron coronavirus variant began spreading widely.