Another consequence of an aging population and a jobless recovery, this time in Canada. Toronto’s Globe and Mail has the story:
“While Canada’s unemployment rate is well off its recession highs, the quality of new jobs has left much to be desired,” CIBC chief economist Avery Shenfeld says in the analysis, released Thursday.
“Manufacturing has been steadily shrinking its share of the workforce, and of late, governments are also paring back,” he said.
“The lack of higher paying work has forced parents into taking the kind of employment previously reserved for teenage students.”
Employment on the traditional turf of part-time work for young Canadians – food and retail – has plunged among those aged 19 and under but soared for other age groups, including a dramatic climb for the over-25 age set, said Mr. Shenfeld.
The full story is here.