Saturday, October 25th10.0°C
23711
23004

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 The notion is not as outdated as people think, report finds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 It sounds like an outdated notion, but a new report suggests job stability is as prevalent today as it ever was.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 TSX14543.82+56.99
S&P CDNX805.45-3.15
DJIA16805.41127.51
Nasdaq4483.715+30.923
S&P 5001964.58+13.76
CDN Dollar0.8901-0.0003
Gold1231.20+2.10
Oil81.02-0.73
Lumber336.40+6.80
Natural Gas3.631+0.009

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07+0.015
Anavex Life Sciences0.194-0.004
Metalex Ventures0.045+0.005
Russel Metals33.39+0.23
Copper Mountain Mining2.03-0.05
Colorado Resources0.145+0.005
ReliaBrand Inc0.012-0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.445+0.035

 



23825

FEATURED Property
2108196742 Morrison
$669,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...


We can get on together

I was in LA this week. I witnessed such crazy and unusual circumstances as I strolled along Hollywood Blvd and Sunset Blvd. A far cry from sleepy Peachland in the Okanagan! The strange thing was, I f...


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...

_








Member of BC Press Council


22786