Thursday, July 24th16.6°C
21452

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 The notion is not as outdated as people think, report finds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 It sounds like an outdated notion, but a new report suggests job stability is as prevalent today as it ever was.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




Recent Trending




Today's Market
S&P TSX15394.45+0.07
S&P CDNX1011.65-0.58
DJIA17083.80-2.83
Nasdaq4472.107-1.59
S&P 5001987.98+0.97
CDN Dollar0.9310+0.0003
Gold1297.50-7.00
Oil104.30-0.29
Lumber326.00+0.20
Natural Gas3.845-0.002

 
Okanagan Companies
Pacific Safety0.200.00
Knighthawk0.01-0.005
QHR Technologies Inc1.17+0.02
Cantex0.08+0.02
Anavex Life Sciences0.28-0.045
Metalex Ventures0.08+0.01
Russel Metals35.57-0.08
Copper Mountain Mining2.82+0.06
Colorado Resources0.205-0.01
ReliaBrand Inc0.10+0.019
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.19+0.01

 





FEATURED Property
2014145424 Vanderlinde Drive, Keremeos, bc
2 bedrooms 2 baths
$275,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Geopolitical tensions rattle markets

The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...


Labour shortage in BC

The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...


Learn to delegate effectively

Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...

_








Member of BC Press Council


22097