Canada’s job market is being pulled in two directions at once
Canada's job market is experiencing significant structural changes due to a combination of retirements and immigration policies. Approximately 25,500 workers retire each month, leading to a potential shortage of younger workers in the coming years. This dual pressure creates a complex environment for policymakers as they navigate hiring challenges and labor shortages.
- ▪About 25,500 workers are retiring in Canada every month, which is double the rate from two decades ago.
- ▪RBC Economics warns that without immigration, the population of younger workers could shrink significantly by the 2030s.
- ▪Currently, 17 percent of businesses report shortages of unskilled or semi-skilled workers, indicating ongoing labor market challenges.
Opening excerpt (first ~120 words) tap to expand
ShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountOh, hi again. About 25,500 workers are retiring in Canada every month, according to RBC Economics. That’s about double compared with two decades ago. That, along with other factors, are throwing the labour market into a tailspin. Let’s get into it.Shrinking from both ends Welcome to Economics 101, I’ll be your teacher today. Our topic is Canada’s labour force.The labour market is going through what the Bank of Canada called this week a “structural change,” creating a “low-hire, low-fire” environment.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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