Labour Markets

Employment should come with the promise of building economic security. Many Canadians are working but don’t have access to benefits, while corporate profits soar. These indicators track how workers are doing compared to shareholders.

Fewer working people enjoy the protection of unions than they did 25 years ago. In the private sector in Canada, coverage has fallen below 20%. Workers cannot capture a fair share of the benefits from economic growth and corporate revenue when they don’t have the power of collective bargaining. (Source: Statistics Canada).

In the private sector in Canada today, about 20% of workers have access to a pension. That number has declined slowly and steadily over the past half century. Along with declines in home and business ownership, the decline in pension coverage represents a loss of wealth and economic security for working people today. (Source: Statistics Canada. Calculations by Social Capital Partners).

Investor wealth continues to outpace the job market. While the stock market continues to rise, fewer jobs are available. This is one sign of a “K-shaped” economy and growing inequality that needs to be monitored. (Source: Statistics Canada. Original chart by Kaylie Tiessen).

One way to track the health of the economy is to monitor labour market success for recent grads. The economy is getting worse for young people aged 15 to 24. This is a sign of intergenerational inequity in the economy and is realistically causing economic anxiety among young people. (Source: Statistics Canada. Original chart by Kaylie Tiessen).