Labour forces: Retirees to the rescue as the Great Resignation hits Canada

Canadians are living longer and healthier — why not work longer?

Tens of thousands of Canadians were able to celebrate Labour Day this year by not setting their alarm clocks.In July, Statistics Canada reported that 300,000 Canadians had retired in the previous 12 months – a 30 per cent increase from the same period the year prior.

While Canada registered more than 400,000 immigrants in 2021, the numbers can be misleading, because a lot of those new immigrants were already in the country as students or temporary foreign workers. In resource sectors, companies have been investing in skills training for First Nations with some success. While the employment rate for Indigenous Canadians has improved slightly over the last 10 years, First Nations represent a human resources pool that is still largely untapped.With baby boomers living longer than previous generations , many boomers could continue working well past 65 – provided they want to, and provided there are incentives to do so.

Not all employers recognize the value of older, experienced workers, however, and still prefer younger ones in their recruiting. It’s a mindset Spence said employers might need to rethink, as the labour pool continues to shrink. “It takes two years for an older person to find a job, for the most part, and it’s much more difficult for women than it is for men,” Spence said.

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