MONEY: Are you retired and thinking about finding a part-time job? The rewards are there

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Dear Money Lady: My grandson now works part time for well over minimum wage and I can’t believe all the perks he gets. I am also thinking of a part-time job. Do you think they would hire a senior?

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Yes I want it Jess – you should apply!

Many businesses across Canada, primarily in the “concert” and hospitality industries, face staff shortages as the Christmas season approaches. According to Statistics Canada, the labor shortage is widespread across the country in several different sectors. They say the inability to find enough workers is hampering post-pandemic economic recovery. According to the Business Development Bank of Canada (BDC), 55 percent of small and medium-sized businesses in Canada struggle to hire the workers they need, limiting growth and forcing businesses to delay or refuse new orders .

We are now seeing many employers having to “step up the pressure” by offering higher wages as well as signing bonuses and job benefits. In November 2021, there were 875,000 job vacancies in Canada and a third of all businesses reported a labor shortage. Many economists see this as a major problem that will worsen in 2022. They predict that over the next three to five years, the last wave of baby boomers will begin to reach retirement age and their departure will create approximately 600,000 to 800,000 additional vacancies. To obligate. Employers will need to be more creative in attracting talent. Raising salary expectations will be one of the incentives, but new hires will want so much more after COVID. Flexible hours and remote working options will be expected, but more autonomy in planning their work-life balance will also be essential.

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I know many of you have criticized the federal government for providing pandemic income benefits and recovery benefits. Although they have helped unemployed Canadians, some people still believe it has made the job market worse by discouraging people from returning to work. We must not judge too quickly. It’s much more complicated than that. Statistics Canada says 20% of Canadians who lost their jobs during the pandemic have changed careers and moved to another industry. And many economists now believe it is more the issues of our aging population that choose to leave the workforce during COVID, as well as the limited number of immigrants from our country allowed to enter Canada during the pandemic. Whatever the reason, we can all agree that the Canadian work environment has definitely been shaken up. Sounds good to me – and good for all workers in the future!

Honestly, we can’t take this as a bad thing. The new landscape of work could be absolutely fabulous for all of us. Finally, good employees have a “little” more power. We can no longer be micro-managed, and really why should we?

Graduates can expect to get good jobs and opportunities to build their future. As our baby boomers retire, more emphasis will be placed on the emerging talents of our youth. And for those who want to work part time, why not? You can now be well paid for it and appreciated in this workforce. Why wouldn’t you consider retiring a little earlier and working part-time for $ 20 to $ 25 an hour in the retail or hospitality industry? Employers can get a mature, trustworthy and reliable employee, while the retired professional gets a less stressful and more flexible employment situation where they are valued, go out into the community to help others, and now, he is well paid for it.

Good luck and best wishes

Christine ibbotson

Written by Christine Ibbotson, author of three books on finance and the Canadian bestseller “How to Retire Without Debt and With Wealth”. Go to www.askthemoneylady.ca, or send a question to [email protected]

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