Job quality hits eight-year high: Study

New jobs are high quality and high pay
||Last Updated: 03/31/2008

Despite the losses of manufacturing jobs, Canada's job market is in good shape thanks to the creation of an abundance of high-paying, high-quality jobs last year, according to a new study.

CIBC World Markets found the economy created 400,000 new jobs last year and "the vast majority of them were in high-paying sectors," said the bank.

The bank's employment quality index, which reflects the ratio of full-time jobs to part-time jobs, self-employment versus paid employment and compensation packages in over 100 industry groups, rose by 2.8 per cent last year, the largest increase since 1999. In the United States, the index dropped 1.9 per cent.