(public).sospep.subjects ~ view article ~ ECONOMY-canada-job-market-quality-in-decline

<h1 style="text-align: center;">SUMMARY-Job market quality in decline with lower wages, higher self-employment&nbsp;</h1>
<h2>[WHAT]</h2>
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<li>x] by TAVIA GRANT, BILL CURRY AND DAVID KENNEDY @theglobeandmail.com - ] 2015-03-05 report on CIBC study indicating detoriaiting quality of jobs in Canada</li>
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<h2>[WHY]</h2>
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<li>] a closer look at the jobs powering Canada's economy today</li>
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<h2>[WHERE]</h2>
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<li><strong>] READ THE FULL ARTICLE</strong></li>
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<li>]&nbsp;<a href="http://www.theglobeandmail.com/report-on-business/economy/job-quality-in-canada-sinks-to-all-time-low-cibc-index-shows/article23303996/" target="_blank">http://www.theglobeandmail.com/report-on-business/economy/job-quality-in-canada-sinks-to-all-time-low-cibc-index-shows/article23303996/</a></li>
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<h2>[WHEN]</h2>
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<li>] 2015-03-15</li>
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<h2>[EXAMPLE]</h2>
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<li>a study from Canadian Imperial Bank of Commerce(CIBC) paints an even worse picture. According to the bank&rsquo;s analysis, job quality has fallen to its lowest level in more than two decades.</li>
<li>A CIBC index that measures 25 years worth of data on part-time versus full-time work, paid versus self-employment and compensation trends, has fallen to its lowest level on record.</li>
<li>Another report from the Toronto-Dominion Bank last month pointed to more weakness than the unemployment rate suggests.</li>
<li>A lack of hours along with a prevalence of lower-wage jobs and self-employment underscore why many households are having difficulty shoring up savings and why consumer spending may taper off this year.</li>
<li>After every recession, [job quality] goes down, but it doesn&rsquo;t fully catch up. So there is almost a permanent loss every time that there is a shock,&rdquo; said Benjamin Tal, CIBC&rsquo;s deputy chief economist. This is why the decline in employment quality &ldquo;is more structural than cyclical.&rdquo;</li>
<li>One notable shift is that a smaller portion of the labour market now has higher bargaining power, or high-paying jobs, while a larger segment has lower bargaining power, he said. &ldquo;This is the main reason why the income gap is rising, which I believe is the number one economic, social issue facing the country in this decade.&rdquo;</li>
<li>The number of self-employed workers has been on a &ldquo;steeper incline&rdquo; over the past 25 years, and in the past year grew four times faster than the number of paid employees, the CIBC report said.</li>
<li>&nbsp;low-paying full-time jobs have risen faster than mid-paying jobs over much of the past two decades, which in turn have risen more quickly than high-paying jobs. And in the past year &ldquo;the job-creation gap between low- and high-paying jobs has widened,&rdquo; with low-wage full-time paid positions rising at twice the pace of high-paying jobs.</li>
<li>The portion of unemployed Canadians qualified for EI fell to about 38.6 per cent last year, compared with 46.9 per cent in 2006.&nbsp;</li>
<li>Mr. Tal, at CIBC, says the situation shows a mismatch in the labour market, where &ldquo;we have many educated people are compromising on contract jobs, on self-employment jobs, low-paying jobs because they don&rsquo;t have the skill-set that those high-paying jobs need. And that&rsquo;s why their bargaining power isn&rsquo;t as powerful.&rdquo;</li>
<li>The solution requires a collaborative effort, he says, from governments, who shape educational and immigration policies, employers, who hire and train workers and from job seekers themselves. &ldquo;We do need the young people to be a bit more practical about what they do, in terms of field of studies.&rdquo;</li>
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<h2>[HOW-TO]</h2>
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<li>]</li>
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<h2>[REFERENCE]</h2>
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<li>] SRC = ? (g.qry='')</li>
<li>x] FOUND - ART &nbsp;# 4966 -&nbsp;<a href="/view/article?id=4966" target="_blank">BC Jobs - quality of jobs in BC</a>,&nbsp;IN nations/canada/economy - the jobs picture in BC is&nbsp;not as rosy as the provincal liberal government would have you think that it is</li>
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<h1 style="text-align: center;">&nbsp;</h1>

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