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Bank of Montreal
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Shares Issued 647,242,067
Close 2021-06-03 C$ 128.57
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Globe says BMO's Porter sees Cda doing better on jobs

2021-06-04 06:45 ET - In the News

The Globe and Mail reports in its Friday edition that U.S. companies are struggling to find workers, despite the millions of Americans who remain jobless after pandemic layoffs. The Globe's Matt Lundy writes that as the U.S. quickly disposes of lockdown measures, hiring has become something of a headache. Job openings have surged to a record, but small businesses are also reporting their greatest ever difficulties in filling positions. Analysts have thrown out a handful of explanations -- everything from parents struggling to find child care, to lingering health concerns, to generous income supports that have left workers in no rush to accept job offers. Now that Canada is starting to reopen, can it expect the same? As it stands, Canada has a shorter path to recovery. It has recouped 83 per cent of its pandemic job losses, next to the U.S.'s 63 per cent, and done a much better job of keeping people in the labour force. Canada's wage-subsidy program, while maligned over its hefty costs and use by profitable companies, has kept millions of workers connected to their employers. The subsidy "has kept employees a little more engaged with their employers" than in the U.S., said BMO chief economist Doug Porter.

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