Released two weeks ago, Canada’s 2013 Federal Budget as a whole was considered a relatively tame affair, accompanied by few major headlines in the national press. In his latest report, Dr Peter Andersen notes that the federal budget is counting on the economy to pick up even though the country is currently in the midst of an economic slowdown.
Post-release conversation on the budget has focused strongly on employment and skills availability, primarily through the Canada Job Grant, improved skills training for indigenous and disabled Canadians, and extension of the small business hiring credit. While this is anticipated to help fill the requirements of many businesses within certain industries, such as manufacturing in Western Canada, Andrew Jackson at The Globe and Mail suggests it does not mesh with the documented skill shortages: These are mainly in the highly skilled trades, professional health care occupations, engineering, and information technologies, all of which require significant post-secondary education.
For further information on Canada’s economic outlook, the Peter Andersen Report is an invaluable tool for TEC members. This and previous editions of the report are now available for you to access in the TEC Canada area on Vistage Village. Access this month’s report here >
- Peter Andersen Monthly Economic Report – February 2013 – Summary (tec-canada.com)
- Federal Budget 2013: Canada’s military under the gun in spending cuts (thestar.com)
- Skilled labour gap exaggerated, BMO says (cbc.ca)
- Federal budget 2013: Ontario manufacturing gets relief to help ‘reboot economy’ (thestar.com)