Tausi Insider

Some Canadian employers say they plan to hold onto their workers even if the economy slips into a recession rather than risk not be able to rehire later, which should put a lid on job losses and soften the economic blow of the slump. Canada’s jobless rate dropped to a record low of 4.9% over the summer and has since edged up to 5.2%. In October, the economy added a net 108,300 jobs, and wages growth climbed to 5.5%, even as the economy began to stall. The challenge of hiring over the last few months is giving employers pause. “I don’t anticipate layoffs at all,” said Mark Seymour, CEO of trucking service Kriska Transportation Group in Prescott, Ontario. Up until a few months ago, Kriska’s 1,200 employees were too few to keep up with demand, Seymour said. Now trucking activity, a leading indicator, has fallen off about 5% from earlier this year, Seymour told Reuters. Seymour said his company hauls for one major car manufacturer who is expecting to be able to boost production again soo...