Job outlook Industrial Relations Economist in Canada
People working as an industrial relations economist have different job prospects depending on where they work in Canada. Find out what the future holds for them in your province or territory. These outlooks are applicable to all Economists and economic policy researchers and analysts (NOC 4162).
Job opportunities over the next 3 years
Explore future job prospects by province and territory.
|Newfoundland and Labrador||Undetermined|
|Prince Edward Island||Undetermined|
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Labour market conditions over the next 10 years
Take a closer look at the projected labour demand and supply for this occupation over the 2017-2026 period. For more information on future job trends, go to the Canadian Occupational Projections System.
In order to determine the expected outlook of an occupation, the magnitude of the difference between the projected total numbers of new job seekers and job openings over the whole projection period (2017-2026) is analyzed in conjunction with an assessment of labour market conditions in recent years. The intention is to determine if recent labour market conditions (surplus, balance or shortage) are expected to persist or change over the period 2017-2026. For instance, if the analysis of key labour market indicators suggests that the number of job seekers was insufficient to fill the job openings (a shortage of workers) in an occupational group in recent years, the projections are used to assess if this situation will continue over the projection period or if the occupation will move towards balanced conditions.
Over the 2014-2016 period, employment growth in this occupational group was stronger than the average for all occupations. The unemployment rate declined slightly to reach 5.7% in 2016, but remained higher than its long term average. The average hourly wage decreased over the period of interest, though this drop can partly be explained by the hiring of new workers typically earning lower wages than more experienced workers. Hence, analysis of key labour market indicators suggests that the number of job seekers was sufficient to fill the job openings in this occupational group.
For Economists and economic policy researchers and analysts & Business development officers and marketing researchers and consultants, over the period 2017-2026, new job openings (arising from expansion demand and replacement demand) are expected to total 19,800, while 21,200 new job seekers (arising from school leavers, immigration and mobility) are expected to be available to fill them.
As job openings and job seekers are projected to be at relatively similar levels over the 2017-2026 period, the balance between labour supply and demand seen in recent years is expected to continue over the projection period. Job openings are expected to result from both expansion demand and retirements. Employment growth is expected to be at par with the average over the 2017-2026 period, but job creation should be much weaker than over the previous decade. This anticipated slowdown in the employment growth partly results from the fact that governments at various levels have to operate under tight budget constraints. However, employment is anticipated to continue rising in the private sector due to the increasing complexity of the global economy, additional financial regulations, and a more competitive business environment. In addition, more than 40% of the job openings are projected to result from retirements. However, the retirement rate is expected to be among the lowest among all occupations. Indeed, workers in this occupational grouping are generally younger than in other occupations. With regard to labour supply, school leavers are expected to account for the majority of job seekers. A significant number of job seekers will also come from immigration. Over the projection period, this occupational group is expected to be very popular among both school leavers and new immigrants due to good working conditions and its relative easy access (no entry examination, no regulatory body, no professional designation, etc.). Finally, a significant number of workers will leave this occupational group, notably to become manager in public administration, in administrative services, or to work in the finance sector.
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