Canada's real problem isn't job losses, it's the rush to retire — via financialpost News Work Economy
Canada’s labour force grew in August, but it fell the previous two months and remains smaller than before the summer as tens of thousands of people simply stopped working. Much of this can be chalked up to more Canadians than ever retiring, said Statistics Canada.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“The risk you have, and in some sectors you’re already seeing it, is that people are leaving without there being enough younger workers to take over. So there’s a loss of human capital and knowledge.”Jimmy Jean, chief economist, Desjardins Group Canada — which has ramped up immigration to help drive economic growth — has the largest working-age population, as a percentage of the overall population, in the G7, but at the same time its labour force has never been older, according to Statistics Canada. One in five workers in Canada is 55 or older.Article content
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