Income inequality growing between younger and older workers: report
Posted September 23, 2014 10:57 am.
This article is more than 5 years old.
VANCOUVER (NEWS1130) – The income gap between younger and older workers has gone up substantially since the 1980s.
If this trend continues, it could have a negative impact on our economic growth.
Those at the top of the income heap today fought long and hard for equal pay, but the report from the Conference Board of Canada finds their children now face lower wages for the same work for the same employer.
“As boomers retire, Canada is going to be depending on a smaller share of the population to earn money and to pay the taxes that support public services, like health care,” says David Stewart-Patterson with the Board.
The report finds the average disposable income of Canadians in their early 50s is now 64 per cent higher than that of people in their late 20s. That’s up from 47 per cent in the mid-1980s.
“This is a trend that could have serious consequences for employers, labour unions, governments, and communities. If the earnings of younger workers continue to lag, we could also see growing conflict within our society,” says Stewart-Patterson.
