Canada’s Job Supply Outlook
A key function of labour market information is to provide insight into expected future trends in the labour market. What jobs are most likely to be in demand in the future? Which industries are expected to grow most quickly? What skills and abilities will be needed? Answers to these questions help all kinds of people make informed decisions.
Job Supply Outlook
About one third of job openings (or close to 1.8 million) will be in occupations requiring college education or apprenticeship training, while 26.5% of job openings will be in occupations requiring only high school education. Over the next several years, 21.3% of job openings will be in occupations requiring a university education, and 11% of job openings will be in management occupations.
By 2015, about six million people will enter the Canadian labour market, with 80% of them coming out of the formal education system. In 2015 alone, the number of school leavers (or graduates) is predicted to be 572,000.
Although immigrants are an important part of the labour supply, they represent only a fifth of new job seekers. By 2015, the number of immigrant job seekers in Canada is expected to reach 131,000.
Given these forecasts of job openings and new job seekers in the future, as well as the examination of current labour market trends, many occupations are predicted to continue to have imbalances between supply and demand over the medium term.
The majority of management occupations currently under pressure are predicted to continue to face pressures into 2015, as the predicted number of new job openings is predicted to be greater than the predicted number of new job seekers. The increased need to replace retiring employees will open up many positions in various occupations, including human resources managers, legislators, senior managers, supervisors in facility operation, trades, processing, as well as oil and gas drilling and service. Pressures in shortage are also predicted to occur in two managerial occupations: managers in public administration; and managers in education, health, and social and community services.
The aging of the population will lead to increased health care needs, which will cause demand to outpace supply for several occupations in health care. The following occupations are expected to experience shortage pressures into 2015: optometrists, physicians, head nurses and supervisors, health diagnosing and treating professionals, nurse aides, and orderlies.
Human resources and business services are predicted to continue experiencing shortage pressures as employers continue emphasizing recruitment and retainment of quality workers to handle the economy’s increasingly complex jobs.
Oil and gas well drillers, testers, servicers, and related workers are expected to keep feeling pressures into 2015 as a result of a rise in demand associated with large capital spending projects, like the tar sands development projects in Alberta. Lastly, strong non-residential construction and renovation will benefit residential home builders and renovators, as well as civil engineers.
On the other hand, some occupations with current shortage pressures will reach a better balance between labour supply and demand. These include jobs in residential construction and real estate, resulting from an expected slowdown in residential investment. University professors are also expected to experience fewer pressures as more individuals complete their doctoral studies, though some shortage may persist in certain discipline. The same can be said of geophysicists, geochemists, and geologists, thanks in part to the large number of people enrolled in areas of study related to physical science. Computer and software engineers will also have enough supply to satisfy labour demand.
All occupations that are now in excess supply are predicted to remain so into 2015. For the most part, these occupations are in low-skilled categories.
The examination of future labour market situations presupposes that current labour demand and supply trends will persist. Imbalances in the labour market’s occupational sectors may actually diminish and/or disappear as individuals and firms respond to market signals or to data about prospective imbalances. For instance, young people may choose to enroll in areas of study that are associated with occupations that are in excess demand, or job holders may choose to move into jobs where demand is greater. Companies may choose to use less labour and more machinery and equipment if the relative price of labour grows. With time, such demand and supply adjustments will add to lessened labour market pressures in occupations with excess demand.
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Marisol Diaz is an experienced workshop presenter, specialized information publisher, and a SOHO specialist. She also has been writing on Canada settlement and immigration law since 2006. contact her @ email@example.com. You can improve your Canada job search through the Canadian database for Int’l Employers here , an Paid Content or Informational Services run by Hineni Media
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