Financial Factors and Labour Market Transitions of Older Workers in Canada
Table 5
Marginal effects on the probability of working full-time part-time and choosing to retire, sample of full-time workers 2001 and 2005, by earnings and gender (percentage points difference in estimated probability).
Low earners
Middle earners
High earners
Male
Female
Male
Female
Male
Female
Earnings ($10,000 increase)
Full-time
3.31***
7.43***
5.34***
6.86***
1.02***
2.93***
Part-time
−2.62***
−6.46***
−4.91***
−6.64***
−0.92***
−2.93***
Retirement
−0.69***
−0.97***
−0.43***
−0.22***
−0.10***
0
Lifetime earnings ($10,000 increase)
Full-time
1.24
0.78
−0.48
0.52
0.03
−0.83
Part-time
−0.98
−0.68
0.44
−0.50
0.03
0.83
Retirement
−0.26
−0.10
0.04
−0.02
0
0
Wealth ($10,000 increase)
Full-time
−0.15***
−0.05
−0.03
0.03
−0.10***
−0.02
Part-time
0.12***
0.05
0.03
−0.03
0.09***
0.02
Retirement
0.03***
0
0.00
0.00
0.01***
0
One-year accrual ($10,000 increase)
Full-time
0.72*
0.50
0.05
−0.03
−0.04
−0.02
Part-time
−0.57*
−0.43
−0.05
0.03
0.03
0.02
Retirement
−0.15*
−0.07
0
0
0.01
0.00
Health shock
Full-time
−1.82
−2.74
−5.27**
−9.98**
−1.60
−9.53
Part-time
1.43
2.36
4.75**
9.50**
1.45
9.47
Retirement
0.39
0.38
0.52**
0.48**
0.15
0.06
Immigrant
Full-time
6.59*
8.69**
1.16
1.87
−0.71
2.23
Part-time
−5.33*
−7.69**
−1.07
−1.81
0.65
−2.22
Retirement
−1.26*
−0.99**
−0.09
−0.07
0.06
0.01
Working spouse
Full-time
9.32***
1.92
3.45***
0.27
2.56***
0.00
Part-time
−7.31***
−1.67
−3.16***
−0.26
−2.30***
0.00
Retirement
−2.01***
−0.25
−0.29***
−0.01
−0.26***
0.00
Dependent children
Full-time
2.85
−0.31
2.68*
0.12*
1.01***
2.31***
Part-time
−2.27
0.27
−2.47*
−0.11*
−0.91***
−2.30***
Retirement
−0.58
0.04
−0.21*
−0.01*
−0.10***
−0.01***
Other control variables (education level and year dummies) are included in ordered probit regressions. Marginal effects are significant at 99% (***), 95% (**), and 90% (*), not significant otherwise.
