A 10-year Outlook for the Canadian Labour Market (Canadian Occupational Projection System 2009 Reference Projection) The Labour Force of the Future and Imbalances between Job Demand and Worker Supply Policy Research Directorate, Strategic Policy and Research Branch Overview Presentation on Labour Demand: Key Conclusions Labour Supply – Labour Force – School Leavers – Immigration Imbalances – by Broad Skill Level – by Occupation – Mismatch between Field of Study and Occupation 2 Presentation on Labour Demand: 3 Retirements will account for most of the job openings Job Openings from Expansion Demand and Replacement Demand, 1996-2018 800,000 Projection 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 -100,000 Expansion Demand Retirements Other Replacement Demand* -200,000 -300,000 -400,000 1996 1998 2000 2002 2004 2006 2008 Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). * Other Replacement Demand Includes Deaths and Emigration 2010 2012 2014 2016 2018 4 Two-thirds of all job openings will be in occupations usually requiring PSE or in management occupations Thousands Job Openings from Expansion Demand and Replacement Demand by Skill Level, (2009-2018) 2,000 Expansion Demand 1,800 Replacement Demand (Retirements) 1,600 Replacement Demand (Deaths and Emigration) 1,400 32.9% 2 out of 3 job openings in occupations usually requiring PSE or in management 25.6% 22.7% 1,200 1,000 800 11.2% 600 7.7% 400 200 0 Management University College Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). High School On-the-job Training 5 Labour Supply 6 Labour force growth is projected to slow over the next decade Growth of Labour Force 15+ (Non-Student), 1999-2018 (%) (1999-2008): 1.7% average growth 450 (2009-2018): 0.8% average growth Reference Scenario 2009 400 2,5 350 2,0 300 Thousands 3,0 250 1,5 200 1,0 150 100 0,5 50 0,0 0 1999 2008 2005 2002 Labour Force Changes, 000s (Left Axis) 2017 2014 2011 Annual Growth, % (Right Axis) Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 7 Labour force growth is projected to slow over the next decade Growth of Labour Force 15+ (Non-Student), 1999-2017 (%) (1999-2007): 1.7% average growth 450 (2008-2017): 0.9% average growth 400 Reference Scenario 2008 Thousands 350 3.0 2.5 Main difference between Reference 2008 and 2009 300 2.0 250 1.5 200 150 1.0 100 0.5 50 0 0.0 1999 2002 2005 2008 Labour Force Changes, 000s (Left Axis) 2011 2014 2017 Annual Growth, % (Right Axis) Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2008). 8 10-Year Outlook forbethe Canadian Labour Market Population growth will somewhat slower Population 15+ (Non-student): Annual Growth Rate, 1999-2018 2.0 Population Growth Rate (%) 1.8 Average (%) Forecast 1.6 1.4 1.2 1.0 0.8 0.6 Average growth rate over 1999-2008: 1.40% Average growth rate over 2009-2018: 1.17% 0.4 0.2 0.0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 9 Labour force participation rates by age group are projected to increase further Labour Force Participation Rates for Age Groups 25-54 and 55-64, 1990-2018 (%) Forecast 90 85 25-54 80 75 70 65 60 55 55-64 50 45 40 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2016 2018 10 Nevertheless, rapid increases in the share of 55+ Market 10-Year Outlook for the Canadian Labour population will pull down the aggregate participation rate Share of Age Group 55+ in Total Population (Non-Student), 1990-2018 Forecast 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2014 2016 2018 11 10-Year Outlook for the theaggregate Canadianlabour Labour Market Due to population aging, force participation rate will start to decline in the next few years Labour Force Participation Rate, Total and by Gender (15+, Non-Student), 1976-2018 (%) 85 Forecast 80 Males 75 70 Total 65 60 55 Females 50 45 40 1976 1979 1982 1985 1988 1991 1994 1997 2000 2003 2006 2009 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2012 2015 2018 12 Projection Models - Structure Demographic and Macroeconomic Projections Employment Labour Force outflows Expansion Demand Replacement Demand: - Retirements - Emigrants - Deaths Labour Demand intra-flows inflows Job Seekers: Net Mobility - School leavers - Immigrants - Net reentrants Labour Supply Future Labour Market Imbalances by Broad Skill Level Future Labour Market Imbalances by Occupation Change in employment versus change in labour force by broad skill level Labour demand versus labour supply by occupation 13 Youth population (15-29) will increase in the next decade, thus more youth are expected to enter the labour market Population 15-29 in ‘000s and as a Share of Total Population: 1971-2018 (%) 35 Babyboom: Born between 1947 and 1966 1999-2008 Average youth population: 6.49M 30 Average youth population: 6.77M Echoboom: Born from late 70's to late 80's 20 6,500 6,000 Population 15-29 (right axis) 15 7,000 Thousands 25 7,500 2009-2018 Share of population 15-29 (left axis) 10 5,500 5,000 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 2016 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 14 Most youth entering the labour market will come from PSE programs as the enrolment rate will trend up Enrolment Rates in University Programs as a Percentage of Source Population, 19912018 Projection 30.0% 25.0% 0.70% 0.60% PhD (Right Axis) 0.50% 20.0% Ba. and First professional (Left Axis) 0.40% 15.0% College (left Axis) 10.0% Master’s (Left Axis) 0.30% 0.20% 5.0% 0.10% 0.0% 0.00% 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013 2015 2017 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 15 The recession is expected to have a positive impact on enrolments in PSE programs First-Year Enrolments in Postsecondary Education: Impact of Recession ('000s) Colleges: Recession Projection 400 Recession 380 360 Colleges: No Recession 340 University: Recession 320 300 280 University: No Recession 260 240 Double cohort 220 200 2000 2003 2006 2009 2012 2015 2018 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 16 Students who enrolled during the recession will enter the labour market during the economic recovery School Leavers from Postsecondary Education: Impact of Recession Projection ('000s) 185 College_Recession Recession College_No Recession 165 University_Recession 145 University_No Recession 125 105 2000 2003 2006 2009 2012 2015 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2018 17 The number of school leavers with less than high school is projected to decline by a third over the next 10 years School Leavers with Less than High School Education, 1990-2018 300 Population 14-18 250 1000 200 800 150 600 100 400 Reference 2009 50 200 Population 14-18, ‘000s Less than High School, '000s 1200 Projection Double cohort 0 0 1990 1993 1996 1999 2002 2005 2008 2011 2014 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2017 18 The high school dropout rate is also projected to resume a downward trend High School Dropouts, 1975-2018 25% 250 Dropouts (Right Axis) 210 20% Dropout Rate 230 190 170 15% 150 130 110 10% 90 70 5% High School Dropouts, '000s Projection Dropout Rates (Left Axis) 50 1975 1979 1983 1987 1991 1995 1999 2003 2007 2011 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009) 2015 19 The number of school leavers with a high school degree is projected to increase marginally over the next ten years Projection 300 3500 Population 18-24 3000 250 2500 200 Reference 2009 2000 Double cohort Double cohort 150 1500 100 1000 50 Population 18-24, ‘000s School Leavers with a High School Degree, '000s School Leavers with a High School Degree Only, 1990-2018 500 0 0 1990 1993 1996 1999 2002 2005 2008 2011 2014 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2017 20 The number of school leavers with a college degree is projected to increase by 15% over the next ten years School Leavers with a College Degree, 1990-2018 Population 18-24 300 3500 3000 250 2500 200 2000 Reference 2009 150 1500 Double cohort 100 1000 50 Population 18-24, ‘000s School Leavers from College Programs, '000s Projection 500 0 0 1990 1993 1996 1999 2002 2005 2008 2011 2014 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2017 21 The number of school leavers with a university degree is projected to increase by 15% over the next ten years School Leavers with a University Degree, 1990-2018 300 5000 Population 20-29 250 4500 200 4000 Reference 2009 150 3500 100 3000 Double cohort 50 2500 0 2000 1990 1993 1996 1999 2002 2005 2008 2011 2014 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). Population 20-29, ‘000s School Leavers from University Programs, '000s Projection 2017 22 The share of school leavers with a postsecondary education will increase over the next ten years School Leavers by Education Level, 1999-2008 and 2009-2018 4,000,000 Less than High School High School or Some PSE College University 3,500,000 69.4% 3,000,000 66.7% 2,500,000 2,000,000 1,500,000 31.6% 33.3% 1,000,000 500,000 0 1999-2008 2009-2018 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 23 The younger cohorts entering the labour market are more educated than the older ones but the gap is narrowing Share of the Labour Force (Non-Student) with Postsecondary Education by Age Group, 1990-2018 (%) 80 55-64 years old 25-29 years old Projection 70 Gap in 2018: 8.1% Gap in 2008: 9.8% 60 50 Gap in 1990: 15.8% 40 30 20 1990 1993 1996 1999 2002 2005 2008 2011 2014 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2017 24 As a result,Outlook the level of attainment of Canada’s 10-Year foreducational the Canadian Labour Market labour force will continue to rise, but at a slower pace Share of Labour Force (25+, Non-Student) with a Postsecondary Education, 1990-2018 70% Projection 65% 60% 55% 50% 45% 40% 35% 30% 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 25 Immigration will playfor a smaller role than school leavers as 10-Year Outlook the Canadian Labour Market a source of new job seekers Sources of New Job Seekers: School Leavers and Immigration (15+, Non-Student) 19972018 Projection Immigration School Leavers 600,000 500,000 400,000 300,000 200,000 100,000 0 1997 1999 2001 2003 2005 2007 2009 2011 2013 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 2015 2017 26 An increasing share of new immigrants in the labour force have postsecondary education Recent Immigrants (last 5 years) by Education Level, 2001 and 2006 400,000 Less than High School High School or Some PSE College 350,000 University 73.7% 300,000 65.3% 250,000 200,000 150,000 34.7% 26.3% 100,000 50,000 0 2001 Sources: Statistics Canada, Census 2001 and 2006. 2006 27 The match between the level of education and the skill level usually required by employers is not perfect Proportion of the Labour Force with a Given Level of Education by Skill Level, Amongst Population 25-29, 2008 Management Occupations usually requiring Occupations usually requiring Occupations usually requiring Occupations usually requiring 100% university education college education or apprenticeship training high school only on-the-job training 5.4% 10.7% 6.7% 90% 6.8% 5.9% 80% 70% 4.9% 1.6% 31.4% 35.3% 50.6% 46.6% 60% 50% 39.4% 40% 30% 37.7% 23.3% 31.1% 20% 10% 16.2% 3.2% 0% University 6.2% College 14.3% High school Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 22.7% Less than High school 28 Over six in ten job seekers will offer their services in highskill occupations over the next ten years Job Seekers by Skill Level, 2009-2018 Job Seekers (in '000s) 2000 1500 Other Immigrants School Leavers 29.7% 30.0% 21.5% 1000 7.9% 10.9% 500 0 -500 Management University College High School On-the-job Training Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 29 Imbalances 30 There is limited evidence of imbalances between demand and supply by broad skill level in recent decades Relative Unemployment Rates (left chart) and Relative Wages (right chart) by Skill Level % 300 % Management Occupation usually requiring university education Occupation usually requiring college education or apprenticeship training Occupation usually requiring high school education Occupation requiring only on-the-job training 250 300 Management Occupation usually requiring university education Occupation usually requiring college education or apprenticeship training Occupation usually requiring high school education Occupation requiring only on-the-job training 250 200 200 150 150 100 100 50 50 0 0 1990 1992 1994 1996 1998 2000 2002 2004 Sources: Statistics Canada, Labour Force Survey 2006 2008 1990 1992 1994 1996 1998 2000 2002 2004 2006 31 2008 Small gaps between demand by skill level over the medium 10-Year Outlook for and thesupply Canadian Labour Market term but recession leads to excess supply conditions in the short run Job Openings and Job Seekers by Skill Level, as a Percentage of 2008 Employment, Outlook for the Next Two Years (2009-2010) and Ten Years (2009-2018) 6.0 Projection Periods Job Openings (%) Openings JobJob Openings in in Excess of Job Excess of Job Seekers 5.0 Seekers 2009-2010 2009-2018 Occupations Usually Requiring University 4.0 Management Occupations Usually Management Requiring College or Apprenticeship 3.0 Occupations Usually Requiring High School Occupations Usually 2.0 Occupations Usually Requiring On-the-Job Training Requiring College or Apprenticeship Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). 1.0 Job Seekers in Excess of Job Openings 0.0 0.0 1.0 2.0 Job Seekers (%) 3.0 4.0 5.0 6.0 32 However, the medium several occupations will be 10-YearinOutlook for term, the Canadian Labour Market facing shortage or surplus conditions Job Seekers and Job Openings by Occupation (3-digit), as % of 2008 Employment, Ex-Post Scenario 9 High Skill 8.5 Low Skill 8 Balance Excess Demand 7.5 Excess demand In balance 7 6.5 NOC 031 Job Openings (%) 6 NOC 315 5.5 CNP 311 5 4.5 NOC 212 4 3.5 3 2.5 2 1.5 NOC 945 1 NOC 761 Excess supply Excess Supply .5 0 0 .5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6 6.5 7 7.5 8 8.5 9 Job Seekers (%) Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). 33 An increasing share of the labour force with PSE will fill very low-skilled jobs Proportion of the Labour Force by Level of Education in Occupations Requiring On-theJob Training, 1998, 2008 and 2018 Less than High school 100% 90% 3.9% 21.0% 80% High school College 7.0% 23.2% University 8.7% 26.4% 70% 60% 39.3% 50% 42.1% 40% 41.8% 30% 20% 35.8% 10% 27.7% 23.0% 2008 2018 0% 1998 Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 34 More supply in high-skilled occupations when school leavers look for jobs related to their fields of study Job Seekers by Skill Level, 2009-2018 Job Seekers (in '000s) 2000 1500 Other Immigrants School Leavers 33.0% 30.2% 29.7% 30.0% 22.9% 21.5% 1000 7.9% 10.9% 500 0 -500 Ex-Post 4.4% 9.6% Ex-Ante Management Ex-Post Ex-Ante University Ex-Post Ex-Ante College Ex-Post Ex-Ante High School Ex-Post Ex-Ante On-the-job Training Sources: Statistics Canada and Policy Research Directorate, HRSDC (Reference Scenario 2009). 35 In10-Year general, imbalances more pronouncedLabour when school leavers Outlookbecome for the Canadian Market look for jobs in occupations more related to their fields of study Job Seekers and Job Openings by Occupation (3-digit), as % of 2008 Employment, Ex-Ante Scenario Ex-Post Ex-Ante 11 10.5 10 11 High Skill Low Skill High Skill 10.5 Balance Balance 10 9.5 Low Skill 9.5 9 9 8.5 8.5 Excess Demand 8 8 7.5 7.5 7 7 6.5 Excess Demand 6.5 NOC 031 NOC 311 5.5 5 4.5 NOC 212 4 3.5 5.5 5 4.5 NOC 212 4 3.5 3 3 2.5 2.5 Excess Supply 2 NOC 315 6 Job Openings (%) NOC 315 6 2 1.5 1.5 NOC 945 1 1 NOC 761 .5 .5 0 0 -.5 -.5 -1 -1 -1.5 -1.5 -2 -2 -2 -1.5 -1 -.5 0 .5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6 6.5 7 7.5 8 8.5 9 9.5 10 10.5 11 Excess Supply -2 -1.5 -1 -.5 Job Seekers (%) Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). 0 .5 1 1.5 2 2.5 3 3.5 4 4.5 5 5.5 6 6.5 7 7.5 8 8.5 9 9.5 10 10.5 Job Seekers(%) 36 11 The case of nurse supervisors and registered nurses Job Openings and Job Seekers over 2009-2018 Under Two Scenarios for School Leavers – Nurse Supervisors and Registered Nurses 180 Others Emigration Deaths 160 Mobility Thousands 140 120 Retirements Immigration 100 Others Mobility 80 School leavers Immigration 60 40 Expansion Demand School leavers 20 0 Job Openings Job Seekers (Exante) Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). Job Seekers (Expost) 37 The case of life science professionals Job Openings and Job Seekers over 2009-2018 Under Two Scenarios for School Leavers – Life Science Professionals 25 Excess Supply Others Ex post: -900 20 Ex ante: -9,400 Thousands Immigration 15 Others Emigration Deaths School leavers 10 Immigration Retirements School leavers 5 Expansion demand 0 Job Openings Job Seekers (Exante) Job Seekers (Expost) Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). 38 Differences/Gaps Between Actual and Potential Supply, 2009-18 1 2 BUS, FIN & ADMIN 3 NATUR & APPLIED SCIENCE 4 HEALTH MANAG. LEVEL A university LEVEL B college or apprentic high school LEVEL D on-thejob training SOCIAL SCI, EDU, GOV’T SERV & RELIGION 6 ART, CULTU, RECR & SPORT 7 SALES & SERV 8 9 TRADES, PRIMARY TRANSP INDU AND EQUI PROCESS MANU & UTIL Senior Management N010 11 - Prof in Business & Finance 21 - Prof in Natural / Applied Sciences 31 - Prof in Health 41 - Prof in Social 51 - Prof in Sci / Edu / Gov't Art & Culture Serv / Religion 12 - Skilled Admin & Business 22 - Techl Occ's Related to Natural / Applied Sciences 32 - Tech / Skilled Occs in Health 42 - Paraprof Occ's in Law / Social Services / Education / Religion 14 - Clerical Occs LEVEL C 5 52 - Tech / Skilled Occ's in Art / Culture / Recr / Sport 34 Assisting Occ's in Support of Health Services green: Similar actual and potential supply yellow: Small potential supply red: Large potential supply 62 - Skilled Sales & Service Occs 72-73 Trades & Skilled Transp & Equip Operators 82 Skilled Occ's in Primary Industry 92 - Process / Manu / Utilities Supervisors & Skilled Operators 64 Intermediat e Sales & Service Occ’s 74 Intermediat e Occ's in Transp / Equip Operation / Install / Maintenanc 84 Intermed Occ's in Primary Industry 94-95 Process & Manu Machine Operators & Assemble 66 Elemental Sales & Service Occ’s 76 - Trades Helpers, Constructio n Labourers & Related Occ's 86 Primary Industry Labourers 96 - Labourer in Process, Manu & Utilities 39 Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). Projected shortage conditions over the next 10 years are found mostly in high-skilled occupations Skill Types Occupations Projected to Face EXCESS DEMAND Conditions Business, Finance, Administration Human Resources and Business Service Professionals (NOC 112) Natural and Applied Sciences Managers in engineering, architecture, science and information systems (NOC 021); Inspectors in public and environmental health and occupational health and safety (NOC 2263); Construction Inspectors (NOC 2264) Health Manager in Health, Education, Social and Community Services (NOC 031) ; Physicians, dentists and veterinarians (NOC 311); Optometrists, chiropractors and other health diagnosing and treating professionals (NOC 312); Pharmacists (NOC 3131); Nurse supervisors and registered nurses (NOC 315); Medical Laboratory Technicians (NOC 3212); Medical radiation technologists (NOC 3215); Dental Hygienists and Dental Therapists (NOC 3222) Social Science, Education, Government Service and Religion Manager in Public Administration (NOC 041) Trades, Transport and Equipment Operators and Related Occupations Managers in Construction and Transportation (NOC 071);Facility operation and maintenance managers (NOC 072); Contractors and supervisors, trades and related workers such as electrical trades and mechanic trades (NOC 721); Industrial electricians (NOC 7242); Aircraft Mechanics and Aircraft Inspectors (NOC 7315) Occupations Unique to Processing, Manufacturing and Utilities Aircraft Assemblers and Aircraft Assembly Inspectors (NOC 9481) Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). 40 In those occupations that will be facing shortage conditions, increasing supply to meet demand pose significant challenges Excess Job Openings Versus New Labour Market Entrants from the School System and Immigration for Selected Non-Management Occupations, 2009-2018 School Leavers Immigration Excess Job Openings 40% 60% Nurse Supervisors & Registered Nurses Physicians / Dentists / Veterinarians Supervisors, Mining / Oil / Gas Contractors & Supervisors, Trades & Related Psychologists / Social Workers / Clergy College & Other Voc. Instructors Administrative & Regulatory Occ's Optometrists / Chiropractors / Other Health Professions Other Tech. Occ's in Health (Except Dental) Administrative Support Clerks 0% 10% 20% 30% Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). 50% 70% 80% 90% 100% 41 Projected surplus conditions over the next 10 years are found mostly in low-skilled occupations Skill Types Occupations Projected to Face EXCESS SUPPLY Conditions Trades, Transport and Equipment Tool and Die Makers (NOC 7232). Occupations Unique to Primary Industry Supervisors, Logging and Forestry (NOC 821); Logging Machinery Operators (NOC 8241); Fishing Vessel Skippers and Fishermen/women (NOC 8262); Nursery and Greenhouse Workers (NOC 8432). Occupations Unique to Processing, Manufacturing and Utilities Machine Operators and Related Workers in Pulp and Paper Production and Wood Processing (NOC 943); Machine Operators and Related Workers in Fabric, Fur and Leather Products Manufacturing (NOC 945); Motor Vehicle Assemblers, Inspectors and Testers (NOC 948); Machining, Metalworking, Woodworking and Related Machine Operators (NOC 951); Labourers in Processing, Manufacturing and Utilities (NOC 961). Source: Policy Research Directorate, HRSDC (Reference Scenario 2009). 42 10-Year Outlook for the thenext Canadian Labour Market Key messages: Over ten years… Labour force growth will slow mostly due to population ageing; The main source of supply will remain the school leavers who will be positively impacted by: – The increase in youth population; – Enrolment rates on the rise. New immigrants will only represent a small share of job seekers. Only small imbalances will occur by broad skill level. However, several occupations, will face excess demand (mostly highskilled) or excess supply (mostly low-skilled); – A better match between supply and demand could be achieved by: • Better labour market information • Better skills recognition for immigrants • A more responsive postsecondary system 43