is job churning the new norm for the canada employment market

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Is job churning the new norm for the Canadian Employment Market By: Paul Young CPA, CGA Date: February 28, 2017

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Page 1: Is job churning the new norm for the Canada employment market

Is job churning the new norm for the Canadian Employment MarketBy: Paul Young CPA, CGADate: February 28, 2017

Page 2: Is job churning the new norm for the Canada employment market

Agenda• What is job churning• Labor Market 2016/Canada• 2015 Election Promise / Justin Trudeau and Liberals

Page 3: Is job churning the new norm for the Canada employment market

What is Job Churning?

Quotes: He is one of the workers Finance Minister Bill Morneau alluded to when he told Canada’s youth to get used to “job churn” – jumping from “job to job to job.” The comments angered some young workers, who booed Prime Minister Justin Trudeau when he attended a labour forum this week. Source – The Globe and Mail – October 26, 2016

Quotes:“We are told to go to school. We go to school and get our degrees … and then we have to go from job to job to job,” said Carly Sonier, who works as a food processor at Post Foods Canada in Niagara Falls and represents younger workers for the Canadian Labour Congress union federation.Ms. Sonier said lots of young adults are working multiple contract or part-time positions and are looking for better wages, a steady schedule and paid sick days.– The Globe and Mail – October 26, 2016

Source - whatis.techtarget.com

Page 4: Is job churning the new norm for the Canada employment market

2016 Canada Labor Market

• Source – Stats Canada Source – Huffington Post

Page 5: Is job churning the new norm for the Canada employment market

Justin Trudeau/LiberalsAfter ten years under Stephen Harper, good-quality job opportunities for young Canadians are tougher and tougher to find. Faced with high unemployment and underemployment, many young people have stopped looking for work altogether. This is hard for both young people and their families. Many parents are seeing their household debt rise and retirement savings dwindle as they struggle to support their grown children, who often return home. It is time to invest in young Canadians – to help them get the work experience they will need to start their careers and contribute fully to our economy. – Source – 2015 Liberal Campaign Promise

150,000 Part-time jobs in 2016 – CBC – January 6, 2017

Page 6: Is job churning the new norm for the Canada employment market

2017 Job Market Outlook Canada