Canadian retailers expect the competition for workers to heat up over the next 12 months as the country's jobless rate hits record lows.
A pedestrian walks past a Deloitte sign in downtown Ottawa on Tuesday, Sept. 20, 2011. THE CANADIAN PRESS/Sean KilpatrickCanadian retailers expect competition for workers to heat up over the next 12 months as the country's jobless rate hits record lows.released Tuesday found the fight for talent is expected to emerge as one of the greatest hurdles over the coming year, with 77 per cent of retailers polled saying they believe it will be tough to hold on to their best employees.
Canada's unemployment rate dropped to 5.3 per cent in March, the lowest jobless rate since comparable data became available in 1976, Statistics Canada said last week. The vast majority of retailers said they expect customers to prioritize stock availability over brand or store loyalty, making the avoidance of so-called stock-outs -- when inventory or products are out of stock -- a top priority.
The poll also found retailers generally upbeat about revenue growth but concerned about margin erosion amid high inflation.
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