National Outlook – 10-Year Projection (2011-2020)

This section provides labour demand and labour supply projections for this occupation over the 2011-2020 period.

Note: The tables, graphs and middle paragraph shown under this section display updated 2011-2020 projection results. The remaining narrative text (2009-2018 projections) will be updated shortly. We apologize for the inconvenience.

The data in the following table are derived from HRSDC’s Canadian Occupational Projection System (COPS). COPS uses a variety of models to produce a detailed 10-year labour market projection per broad skill level and per occupation at the national level, which focuses on the trends of labour supply and labour demand over the next ten years.

This occupation (Senior Managers – Financial, Communications and Other Business Services) is part of a larger occupational group called Legislators and Senior Management (NOC 001).

Occupation Projection for Canada

Over the 2008-2010 period, this occupation experienced a drop in employment while its unemployment rate increased at the same pace as the average for all occupations. However, it was lower than the average in 2010. The average hourly wage, which was one of the highest for all occupations, increased more quickly than the average for all occupations. According to key labour market indicators, the number of job seekers was sufficient to fill the job openings in this occupation.

Over the 2011-2020 period, an occupation will be in excess demand (a shortage of workers) if the projected number of job openings is significantly greater than the projected number of job seekers. An occupation will be in excess supply (a surplus of workers) if the projected number of job openings is smaller than the projected number of job seekers. For Legislators And Senior Management, over the 2011-2020 period, job openings (arising from expansion demand and replacement demand) are expected to total 51,830 and 44,965 job seekers (arising from school leavers, immigration and mobility) are expected to be available to fill the job openings.

Based on projections and considering that labour supply and demand in this occupation were balanced, it is expected that the number of job seekers will remain sufficient to fill the job openings over the 2011-2020 period. In fact, the annual difference between supply and demand will be very small, representing only 0.9% of employment in 2010. The majority of job openings will arise from retirements. Given that several years of experience are usually needed to hold a position in this occupation, workers are typically older than the average. This explains why the retirement rate is significantly above the average for all occupations. A significant number of job openings will nevertheless result from expansion demand. Although employment declined over the 2001-2010 period because of the budget deficits recorded by the various levels of government and because of the financial crisis, expansion demand will be relatively strong over the projection period. The economic recovery and the stabilization of public finances in the longer term will help to create new senior management positions in education, health, sales and finance. With regard to labour supply, given that many years of experience are generally needed to obtain a senior management position, it is not surprising that the vast majority of job seekers will come from other occupations. Job seekers will be workers, usually professionals, who have significant experience in public administration, teaching, health, finance or sales. Moreover, a certain number of new immigrants will enter this occupation during the projection period. The rest of the positions will be filled by school leavers, most of whom have completed a doctoral degree, or by experienced workers who have returned to school to improve their skills, especially by acquiring management training such as an MBA.

This Chart contains data for Projection of Job Openings vs. Job Seekers for Canada. Information is available in the following tables.

In which industry or sector do people in this occupation find jobs in Canada?

This table shows the industry and sectors employing the highest number of people in this occupation.

What percentage of people in this occupation are self-employed?

The graph displays the percentage of people in this occupation who are “self-employed”, according to the 2006 Census, in comparison to the Canadian average across all occupations.

As shown in the graph, according to the 2006 Census, 37% of people in this occupation were self-employed, while the average for all occupations was 12%.

The Labour Force Survey also gives us some information about self-employment. This occupation (Senior Managers - Financial, Communications and Other Business Services) is part of a larger group called Legislators and Senior Management (NOC 001). According to the Labour Force Survey (2009), 9% of workers in this group were self-employed, while the average for all occupations was 16%.

What proportion of men and women work in this occupation?

The graph displays the proportion of men and women in this occupation in comparison to the Canadian average across all occupations.

According to the Labour Force Survey (2009), women represented 26% of workers in this occupation, compared to the average of 48% for all occupations.

What percentage of people in this occupation are members of a union?

This occupation (Senior Managers - Financial, Communications and Other Business Services) is part of a larger group called Legislators and Senior Management (NOC 001). According to the Labour Force Survey (2009), the unionization rate for this group was 7%, while the unionization rate for all occupations was 31%.