Job Market Monitor
A Closer Look
Training Programs in Canada – The current package of training programs lacks a coherent framework
Enhancing EI-funded training programs would improve their uptake and help workers who earn little or are vulnerable to job loss and pre-carious work. The federal government spends almost $3 billion a year on training programs, and the 2023 budget set aside an additional $625 million for that in this fiscal year. Much of this money … Continue reading
Per Capita Health Spending in OCDE – More than 76% of all spending is financed through government or compulsory insurance schemes
The level of per capita health spending, which covers both individual and population health care needs, and how this changes over time, depends on a wide range of demographic, social and economic factors, as well as the financing and organisational arrangements of the health system. In 2019, average per capita health spending in OECD countries … Continue reading
Aerospace in Europe – The “gray to green” transition
Aerospace and defense is facing a talent crisis as its workforce ages. Attracting and retaining younger employees will require a radical new approach. Globally, the A&D sector faces multiple challenges as it attempts to attract younger or “green” employees to companies in which the workplace often skews “gray” and in which many of the most … Continue reading
Population Growth and Housing in Canada – The gap is the widest it’s been in 50 years
A new study published by the Fraser Institute today finds that the gap between the number of homes built in Canada and the number of additional people is the widest it’s been in 50 years. Main Conclusions This research bulletin compares annual population growth in Canada with housing completions between 1972 and 2022. The growth … Continue reading
Skills and AI – Millions of workers may need to be not just upskilled but reskilled
In the coming decades, as the pace of technological change continues to increase, millions of workers may need to be not just upskilled but reskilled—a profoundly complex societal challenge that will sometimes require workers to both acquire new skills and change occupations entirely. Companies have a critical role to play in addressing this challenge, but … Continue reading
Farmworker Wage in US – They earned 40% less than comparable nonagricultural workers in 2022
Farmworkers earn very low wages Despite some documented real increases in wages the past few years, the latest FLS data show the hourly earnings of farmworkers are much lower than the earnings of similarly situated nonfarm workers, as well as compared with the average for all workers in the United States (see Figure A). In … Continue reading
Self-Employment in Canada – Fewer nascent businesses
The uncertainty of the pandemic, strong labour markets, and soaring inflation have sped up a decades-long decline in the self-employment rate. Most of the pullback in self-employment comes from businesses with paid help. This could be a problematic trend for small business creation in Canada. Self-employment (with paid help) has become less attractive to Canada’s … Continue reading
Reskilling – It takes a village
In 2019, the Organisation for Economic Co-operation and Development predicted that within 15 to 20 years, new automation technologies would likely eliminate 14% of the world’s jobs and radically transform 32% of them. Those sobering numbers, involving more than 1 billion people globally, didn’t even account for the sudden ascent of generative AI. Advances in … Continue reading
International Student in Canada – Paid work integrated learning (WIL) is one key element
There are more international students in Canada than ever. Many experience challenges along the path of getting their education, applying for jobs and securing permanent residency status in Canada. Policymakers and educational institutions can take steps to improve the likelihood of success following graduation and to protect students from exploitation. Paid work integrated learning (WIL) … Continue reading
Hiring – A Skills First Approach for more career avenues, offering higher pay to workers who are frequently overlooked by employers
By opting for a skills first approach, more career avenues offering higher pay become accessible to workers who are frequently overlooked by employers. Source: Why skills first hiring could solve the talent shortage | World Economic Forum
Immigration and Job Vacancies in Canada — Shouldn’t rely only on immigration to fill the gaps in the labour market writes LMIC
New immigrants are often discussed as a group that could help fill Canada’s labour market gaps. Canada has a track record of attracting educated and highly skilled immigrants. In 2023, Canada expects to receive 500,000 immigrants. However, assuming a constant employment rate, the core-aged immigrant population (those aged 25 to 54 years) would need to increase … Continue reading
Upskilling Pathways in Canada – Need to do more to connect working adults to opportunities
We need to do more to connect working adults to upskilling opportunities. Here are four key ways our skills development systems need to change. Canada’s skills development systems are still traditional in many ways, built around the expectation that the education we complete in our early lives will equip us with the skills we need … Continue reading
Tech Talents – HR must change its approach to attracting and retaining talents
Layoffs have changed the hiring equation for tech talent. Here’s what HR teams in traditional organizations can do to bring top tech talent into the fold. HR and technology leaders can experiment with new approaches to sourcing, supporting, and scaling up technology expertise. Sourcing. HR and technology leaders should emphasize skills, rather than pedigree, when … Continue reading
The Middle Class in US – A steady contraction in the past five decades
The middle class, once the economic stratum of a clear majority of American adults, has steadily contracted in the past five decades. The share of adults who live in middle-class households fell from 61% in 1971 to 50% in 2021, according to a new Pew Research Center analysis of government data. The shrinking of the … Continue reading
Skilled Trades in Canada – To do more to attract young Canadians
Latest research from the annual 3M State of Science Index reveals an overwhelming 96 per cent of Canadians agree that the country’s workforce needs more skilled trades workers. Inspiring and supporting the next generation of skilled workers will be crucial to Canada’s economic recovery and addressing Canada’s growing labour shortage. Despite Canadians thinking highly of … Continue reading
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