There’s more going on in Canada’s labour market than meets the eye, write Alex Whalen and Tegan Hill. Read more
A few things are happening. Seniors, who have lower employment rates than people of working age, are a larger share of the population today than they were in 2019. Second, the growth in the employment of seniors has not kept pace with their population growth. As a result, despite a robust recovery in employment for working-age Canadians, whose employment rate has more than recovered and in fact is now at itsThis advertisement has not loaded yet, but your article continues below.
While some elements of this demographic challenge are beyond government’s control, certain policies aren’t helping. For instance, the claw back of retirement income supports, including Old Age Security , the Guaranteed Income Supplement and the Registered Retirement Savings Program ,the payments seniors receive as they earn additional income, effectively acting as a tax on — and disincentive to — work.
There’s more going on in Canada’s labour market than meets the eye. While the unemployment rate is indeed at historic lows, Canada’s aging population has helped reduce the employment rate, which has coincided with record job vacancies. Absent policy reform, as the population continues to age Canada’s labour market challenges will only get worse.Share this article in your social network
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Opinion: Job vacancy crunch is partly due to agingThere’s more going on in Canada’s labour market than meets the eye, write Alex Whalen and Tegan Hill. Read more
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