Friday, August 22nd15.5°C
22951
22455

A job for life? The notion is not as outdated as people think, report finds

OTTAWA - A job for life? It sounds like an outdated notion, but a new report suggests job stability is as prevalent today as it ever was.

CIBC economists looking at the job stability phenomenon say their analysis shows it at an all time high, or at least at a record high since Statistics Canada started gathering the data in the 1970s.

The report from economists Benjamin Tal and Nick Exarhos finds the percentage of Canadians who have stayed with the same employer for five years and longer is now at a record level.

Extrapolating from the Statistics Canada data, the economists say there is a 60 per cent chance that Canadians will stay with an employer after completing their first year, and a 95 per cent chance for those having five or more years with the same firm.

But it is not necessarily due to loyalty, Tal says. He believes it is more to do with fear.

For employers, they fear losing skilled and trained staff that they will find difficult to replace, and are willing to pay more to retain them.

For low-skilled workers, they see a larger than usual pool of unemployed and so are reluctant to leave the job they have.

The Canadian Press


Read more Business News

22965


Recent Trending




Today's Market
S&P TSX15535.55-19.71
S&P CDNX1005.583.38
DJIA17001.22-38.27
Nasdaq4538.551+6.446
S&P 5001988.40-3.97
CDN Dollar0.9137-0.0003
Gold1279.90+6.2001
Oil96.30+1.82
Lumber352.80-2.80
Natural Gas3.88-0.009

 
Okanagan Companies
Pacific Safety0.18-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.20-0.01
Cantex0.065-0.005
Anavex Life Sciences0.265+0.005
Metalex Ventures0.08+0.005
Russel Metals36.78-0.81
Copper Mountain Mining2.99+0.11
Colorado Resources0.17-0.015
ReliaBrand Inc0.115+0.02
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.26+0.045

 



22870

FEATURED Property
1465271611-Muir
2 bedrooms 1 baths
$194,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What is a journey without a destination?

Photo: ContributedI would call it a joy ride... You see a planned project or business has a destination. It may be an ongoing revenue stream, it may be a business value or an exit strategy. If you don...


Joint accounts: what you need to know!

Establishing a joint account may seem like a great strategy at first glance. However, there are many factors that must be considered before taking this action. This article will explore the use of &ls...


Cost of an Injury Lawyer

Let’s face it; nobody wants to pay for legal services if they do not have to, but if you have been injured in an accident you may have thought about hiring a lawyer to help you navigate your cla...

_



22885

22885


Member of BC Press Council


22854