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The participation rate for workers aged 55 to 65 is more than 10 percent lower than in Japan —a global leader the inclusion of older workers in the workforce. The unemployment rate for older workers is also two and a half times higher in Canada than in Japan . Having older workers participating in the Canadian economy at the same rate as those in Japan could add more than 750 000 workers to the Canadian economy. The trend is largely similar, yet not a pronounced, for immigrant workers. Labour force is around 3 percent lower for the immigrant population than for the Canadian-born population. And the unemployment rate is about two percent higher for immigrants.
Bridging that gap could add close to 250 000 workers Industry Email List to the economy. Differences in participation and unemployment rates for underutilized groups in Canada Enlarge the image Young people: Employ the next generation of workers Over the next decade, workers aged 15 to 24 will form a growing portion of the working-age population. However, young people face Increasing difficulties transitioning from school to the workplace. When employers only look for employees with previous work experience, young people find themselves caught in the “experience trap.
Their biggest challenge is their lack of work-related skills, which paradoxically can only be acquired once they're in the workplace. Yet, hiring younger workers can be highly beneficial for employers. Young people tend to be more educated than older employees. Many young people are quick to understand and master new technologies. Younger employees are generally quick learners and highly adaptable. Younger workers are good ambassadors for your business culture.
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