Recruiters are often seen as the early indicators of economic trends, much like canaries in a coal mine. We recognize shifts in the job market before they become widely acknowledged, especially within Canada.

For instance, we foresaw the recent economic slowdown well in advance of its official announcement. Now, we’re starting to observe signs of recovery on the horizon. While we don’t expect a return to the booming days of 2021, the current activity indicates a brighter outlook for the Canadian job market in 2024.

Now that we’re in the third month of 2024, I would like to highlight some key insights about the current state of the job market. But before diving into that, let’s provide our perspective as recruiters on the ongoing developments.

The Canadian Job Market in 2024: What You Should Know

A Recruiter’s Perspective On The 2024 Canadian Job Market

Well before economists officially declare a recession, recruitment firms notice a decline in client hiring. This isn’t prompted by any explicit signal but rather by a gut feeling or an intuitive sense of market uncertainty. Each firm independently begins to scale back, reduce, or pause its hiring initiatives. While individual companies may not notice these changes, a clear trend emerges when viewed collectively across 50-100 clients, which indicates an impending economic slowdown.

Likewise, the signs of economic recovery appear months before the media reports positive news that recruitment activities show a slight uptick, clients inquire about market conditions, and previously halted searches are revived. While this isn’t a foolproof indicator, years of experience as an executive search professional suggest it’s reliable – these early indicators anticipate an economic rebound in 2024.

The challenging labor market of 2023, marked by prolonged inflation, layoffs, and economic uncertainties, is now giving way to brighter prospects. However, It’s important to temper expectations that the upcoming years won’t mirror the robust growth of recent times. The economy will continue to progress cautiously, but it will significantly improve from recent conditions.

Anticipated interest rate cuts and the gradual resurgence in hiring among companies that streamlined their operations over the past year signal positive changes. Of course, there are still obstacles to navigate, such as conflicts in Ukraine and the Middle East, along with the unpredictable nature of the American election. Despite these challenges, there’s an overall sense of optimism for 2024.

What Are The Main Labour Trends We Can Expect In 2024?

In 2024, we can anticipate three key labor trends:

• Wage growth and salary raises will decelerate.
• Hiring activities will slow down, although companies intend to continue hiring.
• Significant layoffs are not anticipated.

It’s important to note that the dynamics of the labor market will vary between the US and Canada. The US market is more resilient, and Canada’s recovery will be slower. However, both countries are progressing positively. Let’s examine each of these trends in more detail now.

The Money Question – Wages Trends 

In 2024, expect a slowdown in wage increases and raises. During the pandemic and the period of the Great Resignation, employers offered significant pay raises and bonuses to retain their employees. However, now that the Great Resignation is coming to an end, the balance of bargaining power has shifted back in favor of employers. Therefore, workers should expect a different level of pay raises seen during the pandemic.

Quit rates are decreasing, leading employers to scale back their efforts to compete for workers already in the labor force. This reduced competition is also contributing to a decrease in wage growth rates. Additionally, the pace of merit increases may also decline. Employers are now focused on limiting increases outside of regular pay reviews during the pandemic to control budgets.

Will We See Significant Layoffs In 2024?

One of the main factors indicating that significant layoffs are unlikely this year is the persistent challenge for employers to find skilled talent. There’s a strong preference among employers to retain their current workforce, with many companies being cautious about making further cuts due to recent labor shortages. As we look forward to the upcoming year, it seems that many companies are leaning towards “labour hoarding,” which reflects a careful approach to staffing in preparation for potential uncertainties.

Conclusion:

The condition of the labor market is closely linked to the Canadian economy, and the positive news is that the economy seems stable in 2024. This stability indicates that the labor market is also likely to stabilize.

So, what does this mean for recruiters? It means that top talent tends to make their moves at the beginning of an economic recovery. As the economy rebounds, companies aiming to attract and retain the best talent should consider initiating discussions with their recruitment partners sooner rather than later. Now is an opportune moment to connect with The Human Recruitment Agency in Toronto Canada and optimize your recruitment strategy for the year ahead.

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Jobs in healthcare are still changing quickly. The need for clinical practitioners with technology and communication abilities is growing due to increased requirements for virtual care and telemedicine. Employers are also willing to consider unconventional hiring practices due to shortages in all healthcare occupations.

The aging of Canada’s population and the growing need for healthcare administration workers as more patients necessitate support and management positions are two more developments driving demand for jobs in the industry. 

Here are all the details you require to learn about the demanding healthcare jobs in Canada for 2024:

• Which healthcare careers will be in the highest demand in 2024? 
• What is the average salary in Canada for jobs in healthcare?
• What are the projected main areas of the healthcare industry by 2024?

Which jobs in healthcare are most in demand in 2024?

Clinical positions aren’t always the most desirable in the healthcare industry. 

Employers seek applicants who possess the administrative abilities required to manage front and rear medical offices or help patients get vital services, in addition to those who are certified to provide direct patient care.

Let’s explore some of the most sought-after positions in the industry for 2024.

1. Pharmacy assistants 

Pharmacy assistants, who mostly work in pharmacies and medical facilities, are essential parts of healthcare teams.  Their diverse duty includes several vital duties that are necessary to guarantee that pharmacy services run smoothly and that patients receive the prescription drugs they require effectively and safely.

2. Certified Nurse

There’s a reason why registered nurses consistently rank among the most demanding healthcare jobs in Canada. These highly skilled and educated nurses fill in the gaps in the healthcare system by offering comprehensive patient care.  They work in a variety of settings, including clinics, hospitals, government offices, schools, home health agencies, and nursing homes.  Their role is essential for providing everyday services and saving lives for millions of Canadians.

3. Administrative assistant in medical

In the healthcare industry, administrative assistants work in a variety of settings, such as clinics, hospitals, and doctor’s offices.  They support claims billing procedures, assist with patient check-in, guarantee that records are current, and offer general administrative support to clinical staff and healthcare administration.  Strong communication and analytical abilities, the ability to offer patient customer care support, attention to detail, and organization are qualities that make applicants qualified for these roles.

4. Technicians in pharmacies

Typically, pharmacy technicians are employed by pharmacies, clinics, hospitals, or other healthcare facilities. They carry out a variety of employment responsibilities, including keeping track of patients, taking medications, and offering assistance to patients, all while working under the direction of a pharmacist. Pharmacy technicians often require a degree program for employment.

5. A dental assistant

Because they are essential foundational members of dental practices, Dental assistants rank among the highest in demand on our list. They oversee a broad range of administrative duties that are essential to the seamless and effective running of dental offices. They perform a variety of duties in their multidimensional position, all of which are intended to smoothly serve patients and the dental team.

6. A case manager for disabilities

Disability case managers play a crucial role in the healthcare sector by helping people with impairments apply for and manage services and entitlements.  They determine a client’s eligibility, assist them with the application process, act as an advocate, and arrange for a variety of support services to improve their access to aid and overall well-being.

7. A secretary for medicine

Medical secretaries complement general secretaries in offices, but they work in a setting where healthcare regulations and concepts are prevalent.  Applicants for these high-level positions in the healthcare industry should be familiar with medical jargon, understand patient needs, comprehend the demands placed on clinical staff, and possess previous experience in regulated environments.

8. A receptionist in medicine

Medical receptionists, who serve as the first point of contact for patients entering healthcare institutions, are essential to patient care because they manage check-in, appointments, communications, and administrative duties with efficiency and friendliness.

What is the average salary in Canada for jobs in healthcare?

In the healthcare sector, compensation is frequently determined by the role, the applicant’s background, and the workplace. 

The lowest end of the salary spectrum in 2024 was approximately $54,200. The mid-range salary range for professionals in this field was approximately $62,500, while the top-end salary was approximately $84,600.

What are the projected main areas of the healthcare industry by 2024?

The social assistance and healthcare sectors work together to form a massive enterprise that employs millions of Canadians and is eager to hire more workers. 

Candidates can also find employment with private companies such as general medical and surgical institutions, pharmacies and drugstores, and home healthcare services. However, nationwide, the government remains the largest employer in the sector.

Conclusion:

Demanding Healthcare Jobs in Canada for 2024 foresees a surge in employment opportunities. Clinical, administrative, and support roles are vital, reflecting the evolving healthcare landscape. Salaries vary, ranging from $54,200 to $84,600, with diverse opportunities across sectors like social assistance, government, and private healthcare institutions.

Submit your CV today to secure your future!

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