How overall employment rates are going up, while those 55 and up are finding themselves out of a job
Over the past five years employment rates in Canada have gone up. In the 12 months to January, employment increased by 0.7% (+126,000). Over the same period, the unemployment rate rose from 6.6% to 7.2%, as the labour force grew at a faster pace than employment.
In January of 2011, there were fewer people employed that were 55 and older, while at the same time, employment increased in women aged 25 to 54. Of those not working, there seem to be fewer people overall working in Alberta, Manitoba, and Newfoundland and Labrador in January. Employment also declined in the fields of agriculture, manufacturing, transportation and warehousing, and public administration. The arenas that flourished were information, culture and recreation, and other areas in the service industry. Ontario was the sole province with an employment increase.
The first decline in employment was in November of 2008, while the second occurred in January of 2011. 24,000 fewer people aged 55 and older were working and unemployment rose to 0.3 per cent. Though there was a decline, employment for this age group grew by 4.8 per cent in the next few years. Women aged 25 to 54 had a surge of 23, 000 new jobs, and men in the same age range had an increased employment rate of one per cent.
One thing that remained the same was that employment stayed relatively the same for youths aged 15 to 24.