Canada is facing a wave of retirements driven by workers in high-pressure sectors, with an increasing number retiring before they turn 65 according to a new analysis of labour force survey data by ccpa .
TORONTO – Canada is facing a wave of retirements driven by workers in high-pressure sectors, with an increasing number retiring before they turn 65.
Senior economist David Macdonald said it’s highly unusual to see retirements at this level. But a closer look at some of the industries in question paints a picture of burnout, stress and ongoing pandemic difficulties leading to workers retiring earlier than they perhaps planned. Canada’s most populous province is also driving the retirement wave, making up 66 per cent of the extra retirements in the year ending August despite having less than 40 per cent of Canada’s workers. Teachers retired in droves; two-thirds of extra retirements in education were in Ontario.
In the year ending June, extra retirements in retail trade peaked with an extra 13,000 workers. In July, it was construction that saw retirements jump.
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