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 (Other Business Services Managers) is part of a larger occupational group called Managers in Financial and Business Services (NOC 012).

Occupation Projection for Canada

Over the 2008-2010 period, this occupation experienced a drop in employment, but its unemployment rate remained stable and low (3.8% in 2008). The average hourly wage increased at the same rate as 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 Managers In Financial And Business Services, over the 2011-2020 period, job openings (arising from expansion demand and replacement demand) are expected to total 41,693 and 39,973 job seekers (arising from school leavers, immigration and mobility) are expected to be available to fill the job openings.

Given that labour supply and demand in this occupation were balanced, projections indicate that the number of job seekers will remain sufficient to fill the job openings over the 2011-2020 period. Most job openings will arise from retirements. However, the gap between the retirement age and the median age of workers in this occupation is smaller than the gap for all occupations, which illustrates that the retirement rate is higher than for other occupations. Workers in this occupation are older than the average and they also retire slightly earlier than average. Expansion demand will also be a source of job openings over the projection period, but less so than over the 2001-2010 period. Given the stricter regulatory requirements, the need to contract out certain services and the recent financial crisis and its impact, which is still affecting the international banking system, fewer new positions will be created over the 2011-2020 period than were created over the 2001-2010 period. With regard to labour supply, most job seekers will come from the school system, namely, those who have completed graduate studies in business or experienced workers who have returned to school to improve their skills, specifically by completing a business administration program (MBA). An appreciable number of new immigrants will also find employment in this occupation.

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, 34% 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 (Other Business Services Managers) is part of a larger group called Managers in Financial and Business Services (NOC 012). According to the Labour Force Survey (2009), 11% of workers in this group were self-employed, while the average for all occupations was 16%.

What is the proportion of women working 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 48% of workers in this occupation, which is the same as the average for all occupations.

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

This occupation (Other Business Services Managers) is part of a larger group called Managers in Financial and Business Services (NOC 012). According to the Labour Force Survey (2009), the unionization rate for this group was 5%, while the unionization rate for all occupations was 31%.