Canadian Centre for Policy Alternatives: Introduction
A survey released by the Canadian Centre for Policy Alternatives (CCPA) of one thousand Canadian professionals found that 20% are in precarious jobs. It’s not a surprise that job and economic insecurity is affecting professionals across the country when almost 50% of workers are living paycheque to paycheque (Canadian Payroll Association).
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Canadian Centre for Policy Alternatives: Professionals are not immune
We often think that professionals armed with university degrees are immune from the economic woes that plague the rest of working Canadians. However, many professionals now find themselves in a new category of employment – precarious jobs.
A precarious job can be any type of work that is not permanent, has unpredictable income and doesn’t provide a retirement plan or sick days:
- Freelance
- Contract work
- Part-time
Canadian Centre for Policy Alternatives: Survey results
If you think that highly educated professionals are not working in precarious jobs, think again. In today’s economy, the level of education and job security have nothing in common. According to the CCPA survey:
- 58% of all professionals surveyed reported their job used to be more stable
- 22% of professionals across Canada are now working in precarious jobs
- 60% of precarious professionals are women
- 60% of precarious workers don’t have pension plans or sick days
- 50% of precarious workers report that their incomes vary significantly
- 30% of workers in precarious jobs have a post-graduate degree
- Ageism in the workplace. The highest percentage of precarious professionals fall in the 55+ category. As well, those with 10+ years in their profession are also on edge.
- Professionals in precarious careers are twice as likely as those in a secure job to make less than $60,000 a year
It’s very difficult for precarious workers to plan ahead and get ahead. With an unstable income, it can be challenging to meet monthly expenses, let alone save for retirement. Many precarious workers are living off credit in between jobs just to stay above water, accumulating massive amounts of high-interest debt. After the credit cards have hit their limit, in desperation some resort to payday loans and a never-ending cycle of debt.
Canadian Centre for Policy Alternatives: Precarious jobs leads to financial stress
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