Economic Action Plan 2014 proposes to renew the Targeted Initiative for Older Workers program for a three-year period, representing a federal investment of $75 million.
Encouraging the labour market participation of under-represented groups in the labour market continues to be an important priority of the Government. Demographic changes and an aging population mean that older workers are becoming a larger portion of the labour force. They also represent a source of experienced talent that is sought after by employers. While older workers are faring relatively well, economic uncertainty can create unique challenges, particularly in communities where traditional industries have reduced their presence and workforce.
In 2006, the Targeted Initiative for Older Workers program was created to assist unemployed older workers in smaller, vulnerable communities affected by significant downsizing or closures and/or high unemployment by supporting the reintegration of participants into the workforce. All provinces and territories participate in this cost-shared initiative alongside the federal government.
Through Economic Action Plan 2014, the Government proposes to renew the Targeted Initiative for Older Workers program for a three-year period, representing a federal investment of $75 million. Eligibility for the Initiative will also be expanded to communities experiencing unfulfilled employer demand and/or skills mismatches, so that communities with tighter labour markets that may not have met the previous criteria can participate in the Initiative, if they have vacant jobs that unemployed older workers could fill.