Unemployed, unvaccinated, subject to crazy variations in climate … the future is screwed.
The jobless rate, at 6.6 per cent, is actually pretty good, economy experts say. But that rosy figure belies the new reality of Canada’s job market – one defined by lower pay and instability for many.
Part-time and self-employed work has become the new normal for millions of Canadians, a normal where hours fluctuate, benefits are virtually non-existent and pay is generally lower. That was underscored Thursday by a new report from CIBC that shows the bank’s employment quality index – a measure of the job mix in Canada – dropping to its lowest reading since the bank first began taking the pulse of job quality in 1988.
CIBC adds up the number of full- and part-time jobs as well as self-employed workers and then takes stock of the sectors all those jobs reside in (i.e., whether they’re in higher or lower paying fields). The bank’s conclusion: “Our measure of employment quality…
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