Friday, June 02, 2006

Canada: Job Growth for Older Workers

In reporting that employment in Canada increased for a 13th consecutive year in 2005, Statistics Canada also reported that the employment situation for older workers aged 55 and over has become increasingly brighter. In 2005, 29.9% of this population had jobs, up from 29.0% in 2004, the ninth consecutive annual increase in their employment rate since hitting a low of 22.0% in 1996.

The report also shows that more workers are nearing retirement than ever before. In 2005, an estimated 3.6 million workers were within 10 years of (or older than) the median retirement age of 61. They represented 22.1% of the total, up from 10.3% in 1986.

Source: Statistics Canada News Release (June 1, 2006)

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