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Labour Market Trends Offer Valuable Job Search Information

by Melissa Zettel

If you are looking for a new job, carefully consider whether you wish to continue working in the same sector or to use this as an opportunity for change. If you are looking for a change, to find the most promising job prospects I suggest you consider local labour market trends in addition to your skills, interests and experiences.

Labour market trends are continuously changing and depend on many variables. For example, factors such as economic region and demographics will heavily influence which industries and companies are growing and which are declining.

As an example, the service sector currently employs more than three quarters of Ontario’s workers according to Ontario Future Jobs, a publication jointly developed by the Ministry of Training, Colleges and Universities, and Employment and Social Service Canada (2015). The service sector broadly includes education, health care, social assistance, finance, insurance, real estate and the professional, scientific and technical industries. This sector has seen the most employment growth in the last year according to the Employment and Social Development Canada (2015). On the other hand, industries such as transportation and warehousing saw a decrease in employment within the last year (Employment and Social Development Canada, 2015). Knowing these trends can help you plan for a more sustainable career.

Understanding trends with respect to education and job training can also offer valuable information as you consider your qualifications and competitiveness. For example, according to Ontario Future Jobs, 35% of new jobs are expected to require a college diploma, certificate, or apprenticeship training (Ministry of Training, Colleges, and Universities, 2015). Only 9% of new jobs created will require less than high school as indicated in Ontario Future Jobs (Ministry of Training, Colleges, and Universities, 2015). Therefore, if you have a high school education, you might want to consider earning a diploma if it will help you be more competitive in your occupation.

The above information is general and varies depending on where you are looking for work. Therefore, I recommend you conduct local labour market research on trends and the specific occupation you are considering. An excellent resource to start your research is Visiting sector council websites, reading industry-specific publications and conducting information interviews with people working in a particular field are other helpful resources to learn about current trends, update your knowledge and stay ahead of the curve!

For assistance with your research or interpreting labour market information and trends, please drop into one of our locations – We can help!