Harper's intent: Drive down salaries and job quality to increase corporate profits

Job quality in Canada at 25-year low, says CIBC

Part-time and low-wage work on the rise, and the problem is getting worse

 

Not happy in your job? Feel like you can’t get ahead. A new study by CIBC Economics says you may have ample reason.

CIBC says its index of Canadian employment quality is at a 25-year low, and nothing the Bank of Canada can do to adjust interest rates is likely to fix the situation.

In fact, its job quality index has been trending down for the past 25 years and is 10 per cent below its level in the 1990s, the CIBC report said.

That means more people are working part-time instead of full-time, more people are self-employed instead of having secure employment and more are in low-wage jobs than at any time in the last 25 years, says CIBC economist Benjamin Tal.

"The damage caused to full-time employment during each recession was, in many ways, permanent.

That is, full-time job creation was unable to accelerate fast enough during the recovery to recover lost ground,” Tal said in a release.

READ MORE: http://www.cbc.ca/news/business/job-quality-in-canada-at-25-year-low-says-cibc-1.2982891