Those two factors that normally lead to an increase in gig work during a recession are not present this time compared with previous recessions, said Block.The baby boomer generation is also continuing to exit the workforce, leaving more jobs available. That may continue to keep the labour market strong in 2023, said Yalnizyan.
“So long as that demographic phenomenon continues, we may not see a huge spike in gig work,” she said. And even the promised increase in immigration likely won’t change the tide, she added, unless Canada gets better at matching new immigrants quickly to jobs in their skill set.It’s not normal to see both demand and supply sides of the labour market changing at the same time, said Yalnizyan.
However, Block said much depends on the depth of the recession in 2023, which experts so far are predicting will be relatively mild. If it isn’t, though, the labour market could start to look more like previous recessions, with widespread job losses, fewer full-time jobs available _ and a spike in gig work.
Your headline is obfuscating. Inflation and recession was completely predictable and expected. The only thing new here is showing how necessary it is to have Canada's financial house in order before something happens to stress the economy. Wingbat made up monetary policy hurts
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