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Company Expectations Return to Normal?

Company Expectations Hero
One of the biggest changes of the pandemic was people’s expectations. In the course of a single year, expectations about wages, shortages, inflation and profits changed dramatically. The government’s Business Outlook Survey tracks this quarterly, and you seen the ups and downs. As you can see from the chart, we went through an incredible boomerang in terms of expectations on labour.

In 2020, mass layoffs and shutdowns were the primary concern. Yet by the end of 2021, we were at record high levels of concern about labour shortages. Jump to Q3 2023, and we’re back where we started. This is despite a labour market that’s still strong, with wages growing well above pre-pandemic levels.

The labour market has cooled noticeably in the last several months, and the expectations of employers seem to be changing quickly – the same dataset shows almost nobody expects higher wage growth in the future. Whether this will translate to changes in office leasing and remote work remains to be seen. But the balance between employer and employee seems to be quite different than last year. And this is part of how inflation returns to a manageable level; changing expectations.

Company Expectations Return to Normal Graph

Summary
Recent Business Outlook Survey results show much calmer expectations surrounding wages and labour shortages.


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Pour plus d’informations, veuillez contacter:

Adam Jacobs

Head of Research | Canada

Toronto Downtown

Colliers Canada's head of research, leading a cross-country team of 20 mapping, analytics and research professionals. Formerly head of Canada research at Cushman Wakefield and Director of Analytics at Oxford Properties. Featured in mainstream publications such as the Toronto Star, industry publications and podcasts. Specializing in the big picture and the fundamentals driving real estate - demographics, the macro environment and the global economy. 

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