Financial security risk is not just for low income earners
Many highly educated, well-paid, Canadian professionals may be lacking financial security due to the nature of their work.
More than 1 in 5 Canadian professionals is in a precarious employment situation because of contract work, part-time roles, or irregular income.
A survey from the Canadian Centre for Policy Alternatives Ontario found that although 26% of professionals work full time, 37% work contract-to-contract and 34% are part-time.
This leads to financial anxiety and sleepless nights with 57% saying they would prefer job stability.
“We tend to think of precarious work as something that happens in low-wage, low-skill jobs, but the findings from this national survey suggest that there is no safe harbour. Even highly educated professionals are experiencing economic insecurity and unstable working conditions,” says Ricardo Tranjan, CCPA-Ontario senior researcher.
Women, over 55s more likely to be at risk
Women are more likely to be in precarious professional roles, along with over 55s, and those in the private sector.
Those working in education, healthcare, and business, finance and administration roles are more likely to be risking financial security through uncertain employment and income.
“You would think the combination of education, age and experience would buffer professionals from unstable jobs, but all the hallmarks of precarious work are creeping into professions,” says CCPA-Ontario Director Trish Hennessy.
