| LABOUR: CIBC says Alberta leads in generating quality, higher paying employment |
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(AlbertaIndex, February 1, Friday) --- Led by Alberta, Canadians are landing better quality and higher paying jobs in a trend that bodes well for the economy, said a new report by CIBC World Markets. “Not only did the Canadian economy generate close to 400,000 new jobs in 2007, but the vast majority of them were in high-paying sectors,” said Benjamin Tal, Senior Economist at CIBC World Markets in his latest Employment Quality Index (EQI) report. “The number of full-time paid employees in high-paying sectors such as public administration, computer services, and oil and gas extraction rose by a strong 3.6% in 2007, while the number of jobs in low-paying sectors such as general merchandize stores, textile and furniture manufacturing, in fact fell by 1.2% during the year,” said Mr Tal. Alberta and Saskatchewan led the quality parade in 2007, fuelled by strong job gains in energy extraction and mining, sectors where earnings run from 50 per cent to 125 per cent above the industrial average. Also notable is Ontario's ranking as the second lowest on the index, which is "a clear reflection of the difficulties facing the manufacturing sector in the province.” The Canadian findings contrast sharply with the US “where the quality of employment fell by 1.9% in 2007 and is now almost 12.5% below the level seen earlier this decade,” said Mr Tal. "It seems that in Canada, the loss of manufacturing jobs is being offset by job gains in sectors with equivalent and higher employment quality. That’s not the case in the U.S. where the jobs now being lost in sectors such as construction/real estate and manufacturing are being replaced by lower quality jobs.” Did you enjoy this article? Please share it!         |
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