OTTAWA - A new TD Bank report warns Canadians can expect jobs to be scarce and wages low in the next year.
The report predicts that job growth will continue amid the slowing economy, but not enough to make a dent on the 8.1 per cent unemployment rate.
That means jobs will be created at a rate needed to keep pace with population growth and new entrants into the work force, but not enough to bring employment back to pre-recession levels.
The bank expects 2011 will see fewer than 200,000 jobs created in total, about half the 350,000-plus full-time and part-time jobs created this year.
And more of those jobs will be in the services sector, which are generally lower paying.
TD says wage increases will likely rise at about two per cent or less in the next few years, roughly the inflation rate.
