Employment steady but cooling: BMO

Many Canadians are divided on where they're going in their jobs, according to a survey of 1,501 adults released by BMO. More than one-quarter (28 per cent) said they're expecting a raise or promotion in the next year while 23 per cent said there is no possibility of a raise or promotion.

However, 51 per cent are comfortable with their job security, found the 2011 BMO Labour Day Survey. New job numbers released by Statistics Canada showed there was a dip of 5,500 jobs in August and the unemployment rate edged up slightly to 7.3 per cent. In the past 12 months, employment has grown 1.3 per cent, with an increase of 223,000 jobs.

"While month-to-month dips shouldn't be weighed too heavily, the underlying trend in Canada's job market is beginning to cool. Full-time jobs were a highlight, again posting a solid gain of 25,700," said Douglas Porter, deputy chief economist at BMO Capital Markets. "However, private sector and goods-producing jobs fell in the month. As well, after a steady drop in the past year, the unemployment rate nudged up a tick to 7.3 per cent, although still down from 8.1 per cent a year ago. Even with the headline jobs setback, total hours worked did rise 0.3 per cent in the month, and are headed for a solid Q3 reading."

Those who feel they’re up for a raise or promotion: