Financial Factors and Labour Market Transitions of Older Workers in Canada
Table 4
Marginal effects on the probability of working full-time, part-time and choosing to retire, sample of full-time workers 2001–2005, by age and gender (Percentage points difference in estimated probability).
Age 50–59
Age 60–69
Male
Female
Male
Female
Earnings ($10,000 increase)
Full-time
1.79***
4.55***
2.58***
8.52***
Part-time
−1.61***
−4.32***
−2.01***
−7.79***
Retirement
−0.18***
−0.23***
−0.57***
−0.73***
Lifetime earnings ($10,000 increase)
Full-time
0.01
0.07
−0.16
−0.38
Part-time
−0.01
−0.06
0.13
0.35
Retirement
0
−0.01
0.03
0.03
Wealth ($10,000 increase)
Full-time
−0.05***
0.01
−0.22***
−0.08
Part-time
0.04***
−0.01
0.17***
0.07
Retirement
0.01***
−0.00
0.05***
0.01
One-year accrual ($10,000 increase)
Full-time
0.04
−0.17
−0.09
0.26
Part-time
−0.03
0.16
0.07
−0.23
Retirement
−0.01
0.01
0.02
−0.03
Health shock
Full-time
−1.73
−10.27**
−10.54***
−13.68***
Part-time
1.64
9.51**
7.74***
12.86***
Retirement
0.19
0.75**
2.80***
0.82***
Immigrant
Full-time
0.89
3.38***
4.05*
3.86
Part-time
−0.80
−3.22***
−3.19*
−3.55
Retirement
−0.09
−0.16***
−0.86*
−0.31
Working spouse
Full-time
3.08***
0.05
6.53***
3.66
Part-time
−2.76***
−0.05
−5.06***
−3.35
Retirement
−0.32***
0.00
−1.49***
−0.31
Dependent children
Full-time
1.33***
0.59
−1.08
13.06*
Part-time
−1.12***
−0.56
0.83
−12.27*
Retirement
−0.21***
−0.03
0.25
−0.79*
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.
