Paul Martin's Business Update - September 15th, 2014

Great grandma and grandpa are working but their kids might be opting for retirement.

A detailed breakdown of the job numbers from last month undertaken by the editor of Sask Trends Monitor turns up a very intriguing development. The number of people over the age of 65 taking on a job is rising – actually it’s one of the fastest growing demographic segments in the workforce. But the percentage of people between 55 and 64 with a job is declining.

August was the first time that happened in more than a decade. A closer look at the numbers suggests the decline was in full-time employment and it was a direct result of retirement. The number in this cohort rose so the pool was larger but the proportion of those working fell…in other words they left the workforce, principally from health care, the wholesale trade and IT.

Intriguingly, however, the number over the age of 65 who are working or looking for a job continues to increase. And it’s a good thing because without them, the labor shortage would be even more acute.

http://martincharlton.ca/?p=825 #wetellyourstories