Stats & Facts

61.6 points

Small business confidence has dropped as labour shortages, fuel and energy costs pose major challenges. The 12-month outlook fell by three index points to 61.6, while the threemonth optimism index dipped to 58.8, a loss of two points since April. Despite this, the general state of business is on the upswing and better than in previous months, with 43 per cent of businesses reporting being in a good state, compared to 16 per cent who said they were in bad shape. Almost all provinces were more optimistic over the short-term, except Ontario, where businesses saw the biggest decrease (5.6 points), and Quebec. Full-time staffing plans are positive, with 30 per cent of businesses planning to hire in the next three months. The share of businesses saying they will cut back has not changed since April.

—Canadian Federation of Independent Business

39%

Thirty-nine per cent of Toronto homeowners are renovating instead of moving due to real estate prices. Of these, one-fifth are drawing on their home equity as a primary source of project financing, an increasing trend seen across Canada.

—Billdr

48%

Canadian employees continue to struggle to take care of their health and well-being, losing 41 working days per year to absences and presenteeism. Nearly half (48 per cent) of employees are experiencing at least one work-related mental health challenge. Lack of work-life balance ranked highest among the risks.

—Manulife

126,000

12.6%

The kitchen and bath industry grew 12.6 per cent in the first quarter of this year, and is expected to continue its upward climb through 2022. All segments reported high single-digit sales growth year-over-year except for manufacturers, who reported double-digit sales growth of 10.3 per cent. Not only were sales numbers up compared to 2021, but quarter-overquarter sales accelerated for all segments of the industry. As a result, 2022 full-year sales growth expectations have increased, with professionals anticipating 15.1 per cent growth, up from the earlier reported 9.4 per cent. The number of employees receiving pay or benefits from their employer increased by 126,000 in April. Gains were spread across all provinces except for Quebec, which saw little change. Ontario, Alberta and British Columbia reported the largest payroll employment increases, up 0.7 per cent (49,900), 1.9 per cent (37,200) and 0.7 per cent (16,600), respectively. In April, for the first time, payroll employment in all provinces had either returned to or surpassed levels seen in February 2020, prior to the Covid-19 pandemic.