Canadians are living longer and, it would appear, working longer. According to a recent report by TD Economics, since the economic recovery began in 2009, individuals aged 60 years and older have accounted for approximately one-third of all net new job gains. This figure is particularly striking given that these individuals also only make up about 8% of the total labour force.
The report suggests that the growing preference for older workers may be due, in part, to their willingness to take on part-time and temporary work. “These lower-intensity work arrangements provide the perfect vehicle for older workers to gradually move into retirement,” says the report.
Canada isn’t the only country to be experiencing this phenomenon. The study also found that countries such as Australia, Finland, New Zealand, Norway, the U.K. and the U.S. are seeing increased numbers of older workers.