If you came to university with the dream of finding a long term career, you may be out of luck. Canadian Finance Minister Bill Morneau says young Canadians should get used to the idea of moving around from job to job. With the economy currently where it is, the traditional career that students have been working toward may no longer exist.
Rather than attempt to alter the course the job market is on, Morneau says the government will begin preparing for the inevitable.
Along side of the steady career, certain occupations will likely disappear all together, says the finance minister. Those jobs include truck drivers and receptionists.
Morneau suggested that changes to the Canadian Pension Plan would aid future generations as a recognition that people will not be working toward a pension at their steady job for 40 years like they had done in the past.
Workopolis reported that based on current statistical trends, young people entering the job market today can expect to hold as many as 40 different jobs over the course of their working life.
“We also need to think about, ‘How do we train and retrain people as they move from job to job to job?’ Because it’s going to happen. We have to accept that,” Morneau said. Currently, workers in Ontario have access to the Second Career program which may be able to provide qualified applicants with funds to train for a new career after being laid off from their old one. Further programs, though, may need to be instituted to keep Canadians up to date in fields where the job market is growing.
One thing the government says it’s doing to help ease the strain is the new child care benefit, something Prime Minister Justin Trudeau says will lift over 300,000 Canadian children out of poverty.
Canada’s unemployment rate is currently holding steady at around seven per cent. For youth the unemployment rate is much higher, at 13 per cent. Employment overall rose by 0.8 per cent since this time last year, though most of those gains have been in part time work. Last year, the Huffington Post reported that university graduates between the ages of 25 and 34 who were overqualified for their jobs hit 40 per cent, or around 600,000 people. Someone is considered under employed if they cannot find enough paid work or are doing work that does not utilize their skills and training.
The Globe and Mail reported that temporary workers earn only about 75 per cent of what permanent employees earn. The median weekly wage of permanent workers aged 25 to 54 in September of this year was $962, while temporary workers earned $720, adding up to a difference of more than $12,000 year. Temporary workers are also unlikely to get benefits like dental or other medical coverage, disability income protection, or tuition reimbursement. With few raises in sight for the temporary worker, they may be forced to work long hours at multiple jobs just to pay rent.
Rather than proposing any solutions, Morneau said that the government needs to recognize that ”we need a way to help people through their career,” and that solutions need to be found that will “ soften that blow as [workers] think about the long term.”
Is the Canadian government doing enough to secure a future for young Canadians? Tell The Brock Press what you think. Contact us on Twitter or Instagram @TheBrockPress.