Employment in Canada saw little change in February. Employment gains were realized in building/construction, general business, support services and agriculture whereas ground was lost in healthcare, social assistance, education and natural resources.
South of the border employment momentum continued in February for a 72nd month of uninterrupted gains with the unemployment rate remaining under 5%. This is the longest streak on record with close to 14 ½ million jobs having been added over the last 6 years. Gains in February in the USA were primarily realized in areas where Canada saw decreases – namely in healthcare, social assistance and education. Similar to Canada, natural resources realized a decline in the USA as well.
While the jobs market holds steady in Canada and continues to grow in the USA, Deloitte’s 2016 Global Human Capital Trends report indicates that the workplace, workforce and work itself are being reshaped by global forces that will impact future hiring and retention. Deloitte’s global research surveyed and interviewed over 7,000 business and HR leaders in 130 companies and identified 10 human capital trends. The top 5 trends include Organizational Design, Leadership, Culture, Engagement and Learning – all key to positioning companies to compete successfully in today’s highly challenging business environment and competitive talent market. The full report can be found here and is a very good read.
February 2016 C-suite turnover realized increases in all 4 categories as compared to February 2015. CEO turnover, year over year, increased by +14%, CFO changes increased by +8%, overall C-Suite changes increased +16% and Board changes increased by +7%.
Month over month changes February 2016 v/s January 2016 saw similar positive numbers with increases across all 4 categories. CEO changes increased +12%, CFO’s turnover increased 13%, overall C-Suite increased +11% and Board changes increased + 8%.
Of particular interest, executive turnover activity in Canada was markedly higher than what it has been in the past – with Canada representing 11.5% of the activity noted below.
February 2016 C Suite turnover activities break down as follows::