Workers Better Off During Last Recession

Despite volatile times, Canadian workers were better off during the last economic recession than during the two recessions in the 1980's and 1990's. This news comes from an article released by Statistics Canada on September 20, 2011, which outlined the factors involved. Information was derived from the study "Workers Laid-off During the Last Three Recessions: Who Were They, and How Did They Fare?"

In the early 1980s, 2.9% of workers were laid off either temporarily or permanently. In the 1990s, 2.7% of workers were laid off, while only 2.0% of employees were laid off between October 2008 and December 2010.

Workers also fared better due to the fact that the last recession was also much shorter in duration than previous recessions. In terms of employment, it took 27 months to return to its pre-downturn level, while it took 40 months during the early 1980s and 53 months during the early 1990s.

Education planning pays off in recessionary times. Common characteristics were found between workers who were more likely to be laid off. These workers were typically between 15 and 24 years of age, held no university degree, had less than two years of seniority, or were employed in the goods sector.

Holding a university degree seemed to improve workers chances of finding a job in the short term. Seniority also played a factor, as well as initial expectations to be recalled.