The part-time job market is tougher than ever for teenagers as older Canadians are more and more likely to take on part-time work, according to a report released by Toronto-based CIBC World Markets Inc. on Thursday.
The report found that over 20% of 15 to 18 year olds looking for work have been unsuccessful in their search. Furthermore, since 2007, this age group has seen a 22% drop in employment.
Instead, the number of people over the age of 25 working in the retail and food service sectors, jobs typically held by teenagers, has only increased in recent years.
“Young adults, displaced older workers, or immigrants whose education and skills are not always fully rewarded in the job market have been pushed into low-wage work during what has been a fairly lacklustre economic recovery,” said Avery Shenfeld, chief economist, CIBC, in a news release. “The real story is that the job market has not been strong enough to generate higher quality employment for older workers.”
Shenfeld expects the trend in older part-time workers to continue until wages start to increase significantly. Over the past 12 months wages have risen by 1.7%, said Shenfeld, which is not enough to bolster Canadian spending power. As such, until there are higher paying jobs, along with productive growth in existing jobs, younger Canadians will continue to struggle to find part-time work.