Their share has increased from 0.8 per cent in 2000 to 4.9 per cent in 2023.
Their share has increased from 0.8 per cent in 2000 to 4.9 per cent in 2023. In the same vein, the employment rate of people 65 and older has quadrupled, from 3.2 per cent in 2000 to 12.3 per cent in 2023.
The institute says their employment rate continues its upward trend, for both women and men.
“For employers, this is good news” because of the labour shortage, said Daye Diallo, vice-president of workforce policy and economic intelligence at the Conseil du patronat du Québec, in an interview. “It’s a relief for employers.”
He attributes this increase to several factors, including programs and tax measures adopted by governments, by associations like his own and by companies wishing to recruit or retain their workers. Some will, for example, allow for work time adjustments to facilitate the recruitment of experienced workers or their retention in employment, Diallo said.
The fact that Quebec’s economy is more focused than before on the tertiary sector, where jobs are less physically demanding, may also play a role in the fact that workers stay employed longer.
And the objective of “Freedom 55” seems far away for Quebec workers. The retirement age in 2023 was 64.7 years on average, or 65.5 years for men and 64 years for women.
“An trend toward in the average retirement age has been observed since the early 2000s, for both men (+4.1 years) and women (+5 years),” the institute said.
“Society is changing. Economic needs have also changed compared to recent years. So all of these factors are indeed part of everything that could explain the fact that people are staying in the workforce a little longer,” Diallo concluded.
The ISQ notes, however, that the average retirement age tends to be slightly higher in Ontario than in Quebec. In 2023, it was 65.1 years in Ontario.