Older workers secure jobs, while young face tight market

By anna smith

Statistic's Canada has reported that older workers are securing an increasing number of new jobs.

Over 24,000 new jobs created in April were for workers aged 55 and older, Statistics Canada reported this week. This growth rate is the fastest for any age group.

Over the past year, more than 275,000 new jobs have been produced in Canada's economy. Surprisingly, over half of them (133,000, to be precise) have gone to workers 55 and up.

Statistics Canada found that more than a third of over 55s are still working. Almost one out of every seven are still working past 65.

In contrast, the jobless rate for workers under 25 is almost twice the overall average, at just under 12 percent. More than 45,000 people dropped out of the workforce in April, which brought the overall unemploymet rate to its lowest level since 2008. As quoted by CBC, economist Sherry Cooper said: "About half of those were youth, meaning many young people looking for work have stopped looking."



Featured Articles

PwC's Kathryn Kaminsky – the role of boards on social issues

As Vice Chair Trust Solutions Co-Leader at PwC, Kathryn Kaminsky says boards play an important role in helping businesses take action on social issues

Why your business needs a Chief Transformation Officer

Responsible for driving growth and change, the Chief Transformation Officer is the latest addition to the C-suite as business undergoes major change

12 top AI and ML trends for the enterprise in 2023 – Dataiku

With 2023 likely to be a huge year for AI, experts from AI platform provider Dataiku deliver their enterprise AI and ML trends for the year ahead

From NYC to Hong Kong, the rise of the private members' club

Leadership & Strategy

Meet the CEO: Jill Stelfox of Panzura, exclusive interview

Leadership & Strategy

The best Michelin-starred restaurants that are meat-free