Canada sees gain of 350,000 jobs in the top half of wages in 2020 while low wage jobs fall by 740,000
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Over the past year, there has been a net increase of nearly 350,000 people employed in the top half of wages, making at least $27.82 an hour, CIBC Capital Markets said Tuesday in a report. And job creation is clustering near the top: Around 260,000 positions have been added in the highest wage quartile of at least $41.73 an hour.
At the other end, there’s been a net loss of 740,000 employees in the bottom half of hourly wages, an outcome more typical of recessions. (CIBC’s report focuses on company employees and excludes the self-employed.) For those in the bottom quartile, earning less than $13.91 an hour, employment has dropped by 22 per cent.