Stats & Facts

43.8 points

Small business confidence took a dip in the lead up to the holiday shopping season and looking beyond it. The optimism index for the next three months, from December to February, dropped to 43.8 points, while the 12-month index dropped to 50 points — the lowest recorded since 2009, outside of the 2008/2009 and 2020 recessions.

—Canadian Federation of Independent Business

47%

When it comes to what Canadian workers want in today’s job market, salary remains top of mind, with 47 per cent of professionals likely to request a higher starting salary today compared to 12 months ago. An even greater percentage, 57 per cent, feel they are in the driver’s seat when it comes to negotiating pay, perks and benefits.

—Robert Half

55%

11%

Almost half of contractors identify training new workers as the main focus of 2023. Fifty-five per cent say a lack of skilled workers is one of the biggest barriers to growing their business. That number rises to 69 per cent among businesses with more than $10 million in annual revenue and 64 per cent among those with at least two decades of experience.

—Dewalt

The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada fell by 11 per cent in October to 267,055 units, compared to September’s high of 298,811 units. The SAAR of total urban starts also declined, down 11 per cent to 245,234 units. Multi-unit urban starts decreased 13 per cent to 188,189 units, while single-detached urban starts dipped four per cent to 57,045 units.

91%

Nearly one-quarter of homeowners are planning to start a home improvement project in the next year. More than half of this group will kick-off their project by January, with top renovations being bathrooms and kitchens. To tackle these substantial projects, 91 per cent plan to hire a professional. The planned median spend on these projects is $25,000 US, meaning half of homeowners plan to spend more than that amount, while the other half has a smaller budget in mind.

—Houzz

28%

Economic challenges affect small and medium-sized businesses less when they put productivity at the forefront. Of businesses that focus on productivity, 28 per cent are facing supply chain problems, compared to 42 per cent of all Canadian businesses; more than one-third consider inflation a challenge, compared to nearly two-thirds; and 40 per cent are experiencing labour shortages, compared to 58 per cent.