Friday, March 6th6.4°C
25407
22952

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 The notion is not as outdated as people think, report finds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 It sounds like an outdated notion, but a new report suggests job stability is as prevalent today as it ever was.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 TSX14925.55-177.561
S&P CDNX688.86-8.06
DJIA17854.90-280.82
Nasdaq4925.432-57.377
S&P 5002070.90-30.14
CDN Dollar0.7929-0.0082
Gold1163.70-32.2001
Oil51.24-1.31
Lumber282.70-4.30
Natural Gas2.835-0.006

 
Okanagan Companies
Pacific Safety0.125-0.005
Knighthawk0.010.00
QHR Technologies Inc1.57-0.08
Cantex0.035-0.005
Anavex Life Sciences0.18-0.004
Metalex Ventures0.05+0.005
Russel Metals24.02-0.25
Copper Mountain Mining1.20-0.04
Colorado Resources0.14+0.01
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.22-0.005

 



24896

FEATURED Property
2218020#26-1985 Burtch Road
3 bedrooms 2 baths
$249,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


How to price: Step Four

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The purpose of the book was to make available to the owners of small companies, pricing techniques used by sophist...


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...

_








Member of BC Press Council


25413