Financial Factors and Labour Market Transitions of Older Workers in Canada
Table 6
Marginal effects on the probability of working full-time and part-time and choosing to retire, sample of part-time workers 2001–2005, by age (percentage point difference in estimated probability).
Age 50–59
Age 60–69
Male
Female
Male
Female
Wage ($1 increase)
Full time
<0.01
<0.01
<0.01
<0.01
Part-time
<0.01
<0.01
<0.01
<0.01
Retirement
<0.01
<0.01
<0.01
<0.01
C/QPP income ($1000 increase)
Full time
−1.225***
−1.569***
−2.074***
−1.435***
Part-time
0.304***
0.419***
0.232***
−0.177***
Retirement
0.92***
1.149***
1.842***
1.613***
Private pension income ($1000 increase)
Full time
−0.502***
−0.6***
−0.18**
−0.232**
Part-time
0.124***
0.16***
0.02**
−0.028**
Retirement
0.378***
0.439***
0.159**
0.261**
OASGIS income ($1000 increase)
Full time
—
—
−1.161**
−1.246**
Part-time
—
—
0.13**
−0.154**
Retirement
—
—
1.031**
1.401**
Dependent children
Full time
6.257
1.886
4.578
4.592
Part-time
−1.939
−0.561
−0.824
−0.129
Retirement
−4.317
−1.325
−3.753
−4.463
Health shock
Full time
−2.298
−0.145
−3.6
−3.739
Partime
0.498
0.038
0.178
−1.078
Retirement
1.8
0.107
3.422
4.817
Immigrant
Full time
−3.669
0.602
−4.185
4.583
Part-time
0.759
−0.166
0.234
0
Retirement
2.91
−0.435
3.951
−4.586
Working spouse
Full time
11.68***
0.14
6.869**
0.965
Part-time
−2.953***
−0.037
−0.83**
0.113
Retirement
−8.728***
−0.102
−6.038**
−1.079
Other control variables (investment income, education level, and year) are included in ordered probit regressions. Marginal effects are significant at 99% (***), 95% (**), and 90% (*), not significant otherwise.
