Canada's Part-Time Conundrum
Author: Beata Caranci, James Marple
Topic: Financial well-being
Publisher: TD Bank Group
Location: Canada
Format: Brief
Content Type: Research
Publication Date: January 4, 2017
Last year marked the seventh straight year of solid employment gains in Canada following the recession. But, scratching beneath the surface shows the credit went solely to part-time positions. Steep losses in energy-producing provinces are only partially to blame for the decline in full-time positions. Outside of these provinces, part-time job growth vastly outpaced full-time positions. One of the few industries to buck the trend was finance and insurance. But, even here caution is warranted. A concentration in British Columbia and Ontario captures the feedback loop from strong housing markets that are set to cool and weigh on full-time job demand going forward. The Canadian economy is not out of the woods and will require ongoing support from both fiscal and monetary authorities. We expect a slower pace of job growth over the course of 2017. Although it will not take much for full-time work to make something of a comeback given the low bar set last year, the share of part-timers will remain elevated, implying continued downward pressure on earnings and hours worked.
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