4 career paths with the highest (and lowest) employment rates
Canada’s unemployment rate dropped to 6.6% earlier this year, declining to the lowest national rate in over two years. Paradoxically, StatsCanada reported nearly 15% of those unemployed were post-graduates aged 25-29. To compound this issue, a recent media outlet approximated that 50% of Canadian new grads complete their studies with an average of $27,000 in debt.
These stats have left many millennials worried about whether they will be able to find a job in their fields post-graduation, and whether their education is even worth the investment at all.
With this in mind, we’ve rounded up the industries and professions with the highest and lowest employment rates.
Highest employment rates:
Computer science and information technology
While computer science jobs had higher unemployment rates four years ago, the industry is showing promising growth for this year and beyond. Particularly, information systems analysis and computer networking had a 25.5% and 50% increase in employment respectively, with projections for both occupations to remain stable over the next five years. Interestingly, computer related programs are among the least popular university and college programs based on enrollment rates, which could work in students’ favour when competing for jobs after graduating.
Engineering is another dynamic career path which is showing no signs of slowing down. A report for 2017 highlighted various streams of engineering yielded promising growth of jobs into the remainder of the year and beyond. The industrial engineer role had a 16.7% increase in employment rates, while the computer and software engineer showed a 29.7% and 45% increase respectively. Most impressive was the specialized engineer role, which unveiled a whopping 79.1% increase in employment over the last five years and is projected to remain stable in the near future.
Canada’s healthcare industry is another promising area in the labour market, with an additional 47,100 jobs created across the nation since August of last year. More specifically, the pharmacist role was rated as one of the top 100 jobs in Canada for 2017, with an impressive total growth of 38% over the last five years. Not surprisingly, registered nurse careers continue to hold strong with an employment increase of 17.4% across the nation. Finally, the occupational therapist role had a 15.4% growth in job availability and is projected to boom over the next five years, with more than one job per job seeker, meaning graduates of this program have outstanding job possibilities.
The trades are holding strong in the dynamic Canadian job market, proving you don’t necessarily need to follow the university path to have a great career. The industrial electrician position saw a 22.4% rise in employment and a 15.52% increase in rate of pay, and is projected to continue to climb. Positions in the mining and quarry industries increased by 8,800 jobs since August of last year and the industry is projected to see a further growth over next 5 years. Finally, carpentry positions rose a staggering 119% in employment in 2016 with predictions to remain steady throughout next 5 years.
Lowest employment rates:
Despite a recent article noting that business-related degrees are the most popular university and college programs based on enrollment, recent stats highlighted that the employment prospects for graduates are not actually among the highest. Based on employment data from 2016 and 2017, the roles expected to decline most over the next five years included marketing and PR positions by 13.8% and middle and upper management positions by 14.7-16.8%.
Ontario alone saw a decline of 22,300 jobs in business, finance, and administrative roles since 2016. Canada’s Business report for the year noted more specifically that since 2012, the financial auditor role dropped 18.60%, financial management declined 14%, while financial auditing jobs reversed by 8.6% .
It may come as no surprise that teaching positions have remained stagnant across Canada, with relatively few employment opportunities arising. In fact, statscan noted only 2,700 new teaching jobs since August 2016 across the nation with little growth projections into the next five years.
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