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We seem more optimistic about the hiring plans and growth prospects of companies we work for than we were this time last year, according to the annual BMO Labour Day survey.

The report, which was released Sunday, shows that 41% of Canadians believe their company is growing and expect it will be hiring this year. Almost two-thirds are comfortable with their job security (up 13 percentage points from 2011), and four-in-ten expect to receive a raise or promotion this year (up 11 percentage points from 2011).

Only 22% expect their company will be laying off employees.

"Canadian job security is fairly good, with our 7.3% unemployment rate below historic norms," said Sal Guatieri, a BMO spokesman. "Canadians should expect wages to rise modestly faster than inflation, supporting household purchasing power, with the strongest gains in Alberta and Saskatchewan."

The survey says those living in Saskatchewan and Manitoba are most comfortable with job security and are most likely to expect a raise or promotion in the coming year.