Business groups beg Quebec's finance minister to address labour shortage in economic update
CBC
Business groups in Quebec are imploring Finance Minister Eric Girard to address the province's crippling labour shortage in his economic update expected this afternoon.
"The biggest restraint to restarting the economy and balancing Quebec's budget is the labour shortage," Véronique Proulx, CEO of the Quebec Manufacturers and Exporters Association, told CBC in an interview.
Proulx estimates manufacturers in the province have lost $18 billion over the last two years due to the shortage.
"They're losing international contracts because they're not able to deliver on time, some have chosen to let loyal customers go because they're unable to supply them anymore," Proulx said.
Charles Milliard, president of the Quebec Federation of Chambers of Commerce, said in a statement Wednesday that the labour shortage was "slamming the brakes" on the entire economy.
"The government has a golden opportunity to reassure Quebec entrepreneurs about the labour shortage, and it must seize it," Milliard said.
Proulx said the labour shortage existed well before the pandemic and the CAQ government hasn't taken it seriously enough.
"We don't see the numbers improving. Before the pandemic, in manufacturing only we had 19,000 vacant positions. Now we're at 25,000," Proulx said.
Overall, Quebec has about 200,000 vacant positions across the economy.
Both Milliard and Proulx said encouraging older skilled workers to remain in the workforce and enticing retired workers to return are key strategies.
Proulx said right now there's a tax credit offered to retired workers who rejoin the workforce, but she said it's not enough.
"When you combine the federal and provincial tax credits it's about $4,000. Is that enough for someone who's retired to go back to work? I don't think so," Proulx said.
Milliard said the Quebec Pension Plan actively discourages workers from returning to the workforce.
He said retired workers only have the choice to suspend their pension and return to the workforce for up to six months after their initial retirement.
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