Careers in demand that are expected to have a great future also have a high pay potential, one reason being expected labor shortages. With population aging and higher retirement rates, now it is time for students to consider jobs in sectors where labor shortages are anticipated.
Some jobs are already becoming obsolete because new technologies and innovations have made them redundant. Among them are retail cashier, reservation agent, computer operator, and social media manager.
Jobs in the IT sector are already in high demand, and software development is one niche to explore. Businesses are increasingly focusing on artificial intelligence, blockchain, and machine learning, along with orchestration, reactive programing, and serverless applications. These are trends that students may want to stay current on. Experts say that future developments will involve more open source and mobile applications, more files and lines of code, and certainly – a growing army of software developers. At present, the average starting salary is at around $61,000 a year.
Given that markets are constantly fluctuating, this is a niche to look into, especially for people with critical thinking and analytical skills. Entrepreneurs start new businesses all the time, with all companies trying to outrun the competition. This is what makes market research analysts in demand across Canada, especially in cities like Hamilton-Niagara and Ottawa. The only places where slow growth is expected are Prince Edward Island and Saskatchewan. The average starting salary stands at about $50,000.
Already in high demand because of population aging, this is an occupation that tops the list of jobs with a great future. The starting salary is around $60,000 a year, and the territories and provinces where LPNs are the highest paid include Manitoba, Alberta, and Saskatchewan. Territories and provinces in which licensed practical nurses are in high demand are Alberta, Quebec, Prince Edward Island, and Nova Scotia. Demand is expected to increase in the coming years in light of the fact that between 2010 and 2015 applications dropped by close to one quarter. What licensed practical nurses do is monitor patients’ progress, record heart rate, temperature, blood pressure, and other measurements, and record medical history.
Physiotherapy or occupational assistants are also in demand in Canada because of population aging. Demand in the highest in Saskatchewan, British Columbia, Alberta, and New Brunswick. Territories and provinces in which therapists can expect a high pay include Alberta, Newfoundland and Labrador, and Saskatchewan. The average salary that graduates look into is around $40,000 while the average pay is at about $76,800, with professionals in the Northwest Territories getting around $104,000. Therapists perform multiple tasks that aid mobility and movement and help patients overcome medical problems due to mental disorders, physical conditions, diseases, and injuries.
Pilots are also expected to be in demand in the next couple of years because the median age for this position is 45 in Canada. This means thousands of job openings in the near future. The same goes for marine and air traffic controllers. Demand is the highest in Yukon, British Columbia, Alberta, Manitoba, and Quebec, with an average pay at around $60,000 a year.
Aerospace engineers will be sought after in the coming years because of new environmental and security regulations. Aircraft in Canada is already aging and has to be updated and upgraded. This is what aerospace engineers do – they are involved in the maintenance, testing, installation, development, and design of components, vehicles, and systems for aircraft.
Demand is particularly high in places like Quebec, Ontario, and Nova Scotia. If pay is the main consideration, these are also the provinces to look for a job. The median salary is $89,700 while the starting salary is at around $68,400.
Other occupations that have a good earning potential in Canada include construction manager, teacher, and pharmacist.
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As coronavirus restrictions are being lifted across Canada, the country is already on its way toward economic recovery. In fact, a Labor Force Survey shows that some 55 percent of jobs that were lost due to the pandemic have now been regained.
Data shows that the majority of jobs which have been recouped are part-time. In July, the number of full-time positions that were filled stood at 73,000. In contrast, 345,000 part-time jobs have been regained. The good news is that more women found employment compared to men. This is in light of the fact that immigrants, racialized people, women, and other vulnerable groups have been seriously affected by the coronavirus crisis. Some visible minorities also face considerably higher unemployment rates, including Black (16.8 percent), Arab (17.3 percent), and South Asian (17.8 percent). This can be explained by the fact that many of them were employed in sectors such as retail and food services that have been severely affected.
As this is not a classic recession but one caused by temporary closing of businesses and reduced activity, hourly workers have been more seriously affected. This highlights the need of a strategy for economic shocks of different kinds so that Canada is prepared for different scenarios.
Before the global pandemic hit, the Brookfield Institute for Innovation + Entrepreneurship carried out an analysis and research project based on expert panels, artificial intelligence, and strategic forecasting. According to Director of Policy and Research Sarah Doyle, the results can be examined in light of the current state of the economy and labor market. Some lessons learned post the 2008 – 2009 financial crisis can help develop policy, one being the provision of assistance to individuals and not financial institutions. At the same time, infrastructure investment was the main vehicle to facilitate economic recovery, which may not be as efficient post Covid-19. The fact is that the majority of people who are currently unemployed are unlikely to be hired to work on infrastructure projects. This holds, for example, for persons working in the tourism and hospitality sectors, which were hard hit by the pandemic.
The report also makes projections regarding jobs that will be in demand in the next couple of years. These are mainly highly technical, creative, and service-oriented occupations. Jobs that require flexibility in terms of social and cognitive skills are expected to have a good earning potential as they involve tasks that cannot be carried out by a machine or computer. Employment in the manufacturing and resource extraction sectors is likely to decline, the main reasons being increasing automation and resource depletion. More and more companies are currently looking to hire remote employees. According to professor Elangovan at the University of Victoria, this shift is expected to continue post the coronavirus crisis. Sectors that require physical presence are the ones to take more time to recover. Such sectors are tourism, hospitality, recreation, and entertainment. The different provinces and territories are also expected to recover at a different pace. In British Columbia, for example, the hospitality and tourism sectors account for a large share of GDP. Businesses in Western Canada, on the other hand, are heavily involved in manufacturing.
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