Why The Cnh Industrial Capital is Not Growing Again
Posted On July 20, 2021
In the post-recession era, the Cnhl Industrial Capital (CIC) is not growing.
The industry has been declining for several years, as the number of CIC workers has declined.
As of September 2018, the total number of employed CICs is down by a mere 5.5% compared to a year earlier, while the employment rate is down to 27.3%.
The decline in employment is largely the result of the loss of unionized and nonunionized workers in the industry.
The CIC’s decline was partly caused by a decline in the number and type of workers.
The number of people employed in the CIC has decreased by over 30% in the last decade, with fewer people employed.
The decline is largely due to fewer workers choosing to work in the sector.
However, as a result of declining employment, CIC-employed workers are also getting more precarious and have more to lose.
In 2018, a total of 2.7 million workers were employed in CIC industries, down by 7% compared with a year ago.
CIC industry employees have also been affected by the cost of living, which has increased by 9.5%, the unemployment rate for non-unionized and unionized workers has risen by 14.4% and the number employed in non-CIC manufacturing has fallen by 20%.
These trends, coupled with the continued decline in unionized unionized CIC employees, have led to a marked decline in overall employment and the decline in unions’ representation of the industry is expected to continue for the foreseeable future.
Despite these trends, the industry remains a strong employer in Canada.
The CIC had 4.1 million full-time employees as of September 2017, with a total workforce of approximately 3.8 million.
The unemployment rate is 5.4%, the labour force participation rate is 63.1%, the poverty rate is 9.6%, and the housing vacancy rate is 1.4%.
In terms of manufacturing employment, the sector has approximately 2.5 million full time workers, of which 2.2 million are in manufacturing, with 1.7% employed in manufacturing.
According to the latest figures released by Statistics Canada, the employment share of the CIP sector has increased from 11.2% in 2000 to 18.9% in 2018.
As a result, the number per employee is increasing, as well as the total employment in the manufacturing sector.
This increase is expected in the coming years, with manufacturing in Canada expected to grow by 2.3 million workers over the next five years.
Sources: Statistics Canada; CIC, Cnha Industrial Capital, Service Industry