More than two-thirds (69 per cent) of post-secondary students have found summer jobs as businesses ramp up hiring for the busy summer season. Only 19 per cent of students said they are still looking for summer employment, according to a survey released by BMO Bank of Montreal.
"We are seeing that business owners are increasingly willing to invest in growing their business, including hiring new employees," said Gail Cocker, senior vice-president of commercial and treasury management at BMO Financial Group. "This willingness to spend signals an optimistic outlook by business owners which is good news for the Canadian economy."
Students in the Prairies were more likely (53 per cent) to say they have a full-time summer job, compared to only 30 per cent of those in Ontario, found the survey of 625 Canadians attending college or university.
Students in Manitoba/Saskatchewan are most optimistic (63 per cent) businesses are hiring this summer, followed by Alberta (57 per cent), Quebec (48 per cent), British Columbia (46 per cent), Ontario (41 per cent) and Atlantic Canada (39 per cent).
"These numbers reflect projected stronger growth rates in the provinces, with businesses in the Prairies leading the way," said Sal Guatieri, senior economist at BMO Capital Markets. "Strong demand for resources suggests the Prairie provinces will lead Canada's economic recovery this year, as high prices spur investment in the oil and mining industries."
Almost one-half of the students will rely on summer earnings to pay for post-secondary education (48 per cent) or cover day-to-day school-year expenses (61 per cent), found the survey.
Post-secondary students across Canada said government loans and grants (66 per cent), parental support (56 per cent) and summer job income (47 per cent) are the three top sources of funding for their post-secondary education.
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