Where Did All the Good Jobs Go?
/ Author: Lisa Pranger
/ Categories: Guide magazine /
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Where Did All the Good Jobs Go?

According to a recent study by CIBC, job quality has declined over the past two decades.

  • Part-time work has risen, particularly among older workers. It shot up during the 2008/2009 recession, and has yet to return to pre-recession levels.
  • Many older workers are facing declining job quality.
  • The number of low-paying, full-time jobs has grown more rapidly than the rate of high-paying ones.
  • The number of workers earning a below-average wage has risen from 58 percent in 1997 to 61 percent in 2015.

Further data from Statistics Canada show that the situation is even worse for young Canadians.

  • For the last 40 years, Canada’s youth (aged 15–24) have been facing unemployment rates that are 2.3 times higher than their older counterparts.
  • Fewer young Canadians who are not students are employed full time today than in 1976.
  • Those under 25 who manage to land a full-time job have seen their wages fall behind cost-of-living increases.

Overall, male workers aged 17–24 have seen their real hourly wage, or buying power, drop 15 percent, while women have seen it drop 10 percent.

Sources: CIBC Capital Markets—In Focus, macleans.ca



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