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TORONTO, ONTARIO--(Marketwired - June 13, 2013) - The Canadian job market is heating up and students are ready to take full advantage of the growing job market in order to make money for school. According to the Canadian Labour Force Survey, youth numbers were notably strong in May, increasing by 54,400 jobs over the previous month.

As well, a recent BMO Bank of Montreal survey found that half (51 per cent) of Canadian businesses are planning to hire students or recent graduates this year.

"We've seen more companies investing in employee training and development, which will help business owners ensure they have a supply of talented employees who are prepared to drive performance," said Steve Murphy, Senior Vice President, Commercial Banking, BMO Bank of Montreal. "The most recent employment numbers are indicative of the optimism that business owners are feeling."

Plans for Hiring Students and Graduates:

• One-third (30 per cent) of employers plan to take on a paid summer student
• One-in-five (21 per cent) plan to hire a recent graduate as a permanent employee
• Regionally, job prospects for students and graduates are the brightest in Ontario (56 per cent), followed by the Atlantic Provinces (53 per cent) and Quebec (52 per cent)

Regional Breakdown

Hiring Differences by Sector

• Business/financial (37 per cent), retail (25 per cent) and construction (22 per cent) companies are the most likely to hire a recent graduate as a paid intern
• The service and manufacturing sectors are the most likely (35 per cent) to hire a paid summer student, followed by the agricultural sector (34 per cent)
• Employers in the manufacturing industry are the most likely (25 per cent) to hire a recent graduate as a permanent employee, followed by the services (24 per cent) and retail and business/financial (23 per cent) industries

The report was conducted via Pollara with a sample of 500 Canadian business owners, conducted between February 25 and March 15, 2013. The margin of error for this survey is ± 4.4 per cent, 19 times out of 20. Data has been weighted by region and company size, based on a December 2011 Statistics Canada Study, so that it is representative of all Canadian business owners.

About BMO Financial Group

Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013 and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.