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"The good news is that those at the lowest end of the wage spectrum are seeing relatively healthy wage gains not due to bargaining power but mostly due to policy changes regarding minimum wages," Mr. Tal says. "But the group closer to the middle of the wage spectrum has seen sub-par growth." Mr. Tal also examined three alternative proxies of job quality, part-time and full-time paid-employment and self-employment. The share of Canadians working in part-time employment made an "unmistakeable jump" to 20 per cent during the 2009 recession from its more-consistent 18 per cent level in the previousdecade, the report notes. Mr. Tal highlights that the share of part-time workers has yet to return to pre-recession levels, sitting currently at 19.5 per cent. The report says that from a full-cycle perspective, the rise in part-time employment probably reflects some demographic forces as the majority of this increase was among workers above the age of 55. "However, the fact that half of the increase in part-timers among that age group accrued during the recession suggests that beyond pure demographics, there is an element of fragility here," Mr. Tal says. About CIBC CIBC is a leading Canadian-based global financial institution with 11 million personal banking and business clients and three major business units Retail and Business Banking, Wealth Management and Capital Markets.
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