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Business Council of BC report foresees more precarious work, greater income inequality in the future

Topics: - Workforce Trends
Jurisdiction: - All - British Columbia
Sector: - All

The Business Council of British Columbia ("BCBC") has released a report on, "Preparing Canada's Workforce for the Next 150: Part One - Government Driven Solutions" (posted July 5, 2017).

The BCBC states in the report that, based on its reading of the policy and academic literature, these are three reasonable projections of what the labour market is expected to look like in the decades ahead:

  1. employment will be less secure, as we shift from stable, predictable employment to more precarious work.
  2. greater polarization between skilled and non-skilled workers, which in turn tends to aggravate overall income inequality. 
  3. declining quality of jobs, meaning more people are working part-time instead of full-time (often not by choice), more are self-employed, and more are engaged in relatively low-paid work.

The report goes on to review the "levers" that government can use to address these trends, which include investing in the right kinds of education and skills development and continuing to support investment in STEM-related occupations (Science, Technology, Engineering, Mathematics and Computer Science), and the industries that rely on STEM and related technical skills.

The full report can be viewed at the link below.

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BCBC - Preparing July 5, 2017.pdf472.07 KB