Study: COVID-19 and job displacement: Thinking about the longer term
It is too early to know how many Canadian workers will lose their job as a result of the COVID-19 pandemic and what will happen to them financially after job loss.
However, a number of facts emerge from the past. While these facts do not necessarily allow accurate predictions of the impact that COVID-19 will have on job displacement, they provide a long-term perspective from which forthcoming labour market developments can be assessed.
This study highlights some of these facts. During the 1990-1992 and 2008-2009 recessions, roughly 45% of all laid-off workers were permanently laid off. The remainder were temporarily laid off.
From the late 1970s to the early 2010s, at least one in five permanently laid-off workers saw their real earnings decline by at least 25% five years after job loss.
The article "COVID-19 and job displacement: Thinking about the longer term," released today as part of the series StatCan COVID-19: Data to Insights for a Better Canada ( 45280001), is now available.
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).