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global pandemic cloud business confidence

CPA Canada also revealed that the number of respondents highly or very concerned about the potential impact of the pandemic on the economy in 2022 increased from 21% in the third quarter of 2021 to 37% in the last quarter.

“For nearly two years now, the pandemic and its economic fallout have put Canadians and our economy on an unprecedented and challenging path,” said Charles-Antoine Saint-Jean, President and CEO of CPA Canada.

Survey respondents cited supply chain issues facing Canada’s economy (20%), the adverse effects of COVID-19 (18%), and rising inflation (15%), employee recruitment, retention and training (15%) as Identified the top five challenges facing the Canadian economy. %) and shortage of skilled workers (8%).

Accordingly, respondents want the federal government to increase immigration rates for people-demanding jobs (49%) and provide better support training to workers (47%) to help Canadian companies attract skilled workers. Increased compensation (67%), support for hybrid work arrangements (50%), and better opportunities for work-life balance (46%) are methods suggested by respondents to address recruitment and retention.

Poll participants also believe the environment deserves more attention. Of those, 63% agree that the federal government should focus on controlling climate change. Business leaders are also concerned about Canada’s federal financial situation, with 59% of respondents extremely or very concerned, a slight decline from 63% in the third quarter.

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