A CIBC report released Monday suggests Canada’s economic prosperity is at risk due to a labour market split that sees high-demand positions go unfilled while lower-skilled workers languish in unemployment.
“We have people without jobs and jobs without people,” said author and deputy economist Benjamin Tal.
The mismatch of companies unable to hire and people unable to find work is “simply big enough to impact the economy as a whole, our productivity, our potential growth and therefore our standard of living in the future,” Tal said.
The CIBC report breaks down the labour market divide into 25 “have” and 20 “have-not” occupations.
It says the health and science fields, natural resources extraction, plumbing, social work, psychology and even the clergy are among the sectors that have openings, but not the people to fill them.
The report says “traditional” occupations such as clerical work, manufacturing labour, teaching and food services are seeing a glut of workers chasing a limited number of jobs.
“(People) in these kind of professions are actually not in demand and unfortunately there are too many of them,” Tal said, noting many seeking work in those fields are over the age of 45.
Choosen excerpts by Job Market Monitor from
via CIBC report warns that mismatch in job market affecting economic growth | CanadianBusiness.com.
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Posted by Young | November 23, 2013, 5:24 pm