Explore Careers - Job Market Report
Economists and economic policy researchers and analysts conduct research, monitor data, analyze information and prepare reports and plans to resolve economic and business problems and develop models to analyze, explain and forecast economic behaviour and patterns. They advise on matters such as finance, fiscal and monetary policy, international trade, agricultural and natural resource commodities and labour and industrial markets. They are employed by government departments and agencies and throughout the private sector in associations, unions, research organizations, banks and investment firms.
agricultural economist, economic advisor, economic analyst, economic policy analyst, economist, economist, natural resources, energy economist, financial economist, industrial economist, international trade economist, investment economist, labour economist, tax economist, trade economist.
- Conduct research and develop models to analyze, explain and forecast economic behaviour and patterns, and devise methods for collection and analysis of data
- Forecast production and consumption of specific products and services based on records of past production and consumption and general economic and industry-specific conditions
- Prepare forecasts of income and expenditure, interest rates and exchange rates
- Analyze factors which determine economic growth and advise government agencies on policies to increase economic activities
- Analyze factors which determine labour force participation, employment, wages, unemployment and other labour market outcomes
- Study mathematical formulae and statistical techniques and apply them to the testing and quantifying of economic theories and the solution of economic problems
- Study the nature of money, credit and the operation of banks and other financial institutions to develop monetary policies and forecasts of financial activity
- Monitor economic data to assess the effectiveness, and advise on the appropriateness, of monetary and fiscal policies
- Examine problems related to the economic activity of individual companies
- Examine financial methods, production costs and techniques and marketing policies to recommend possible improvements
- Examine statistical data on the exchange of goods and services among nations
- Forecast production and consumption of renewable resources and supply, consumption and depletion of non-renewable resources
- Conduct research on market conditions in local, regional or national area to set sales and pricing levels for goods and services, to assess market potential and future trends and to develop business strategies
- Monitor regional and local economic trends
- Study regulatory processes and provide material in support of legal proceedings with government and other parties.
Grande Prairie, Athabasca, Barrhead, Beaverlodge, Fairview, Falher, Fox Creek, Grande Cache, Grimshaw, High Level, High Prairie, Manning, Mayerthorpe, Peace River, Sexsmith, Slave Lake, Spirit River, Swan Hills, Valleyview, Wembley, Westlock, Whitecourt
Outlook & Prospects for Economists and Economic Policy Researchers and Analysts in Athabasca--Grande Prairie--Peace River Region
The future forecast and current conditions for an occupation can vary based on location or due to changes in the economy, technology, or demand for a product or service.
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 (Economists and Economic Policy Researchers and Analysts) is part of a larger occupational group called Policy and Program Officers, Researchers and Consultants (NOC 416).
|Occupations in this group||
Natural and Applied Science Policy Researchers, Consultants and Program Officers (4161)
Economists and Economic Policy Researchers and Analysts (4162)
Business Development Officers and Marketing Researchers and Consultants (4163)
Social Policy Researchers, Consultants and Program Officers (4164)
Health Policy Researchers, Consultants and Program Officers (4165)
Education Policy Researchers, Consultants and Program Officers (4166)
Recreation, Sports and Fitness Program Supervisors and Consultants (4167)
Program Officers Unique to Government (4168)
Other Professional Occupations in Social Science, n.e.c. (4169)
|Employment (non-student) in 2010||198,634|
|Median Age of workers in 2010||41|
|Average Retirement Age in 2010||62|
Occupation Projection for Canada
Over the 2008-2010 period, employment growth in this occupation was strong and the unemployment rate remained stable and very low (2.4% in 2010). According to key labour market indicators, the number of job seekers was insufficient to fill 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 Policy And Program Officers, Researchers And Consultants, over the 2011-2020 period, job openings (arising from expansion demand and replacement demand) are expected to total 85,229 and 100,407 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 there was a shortage of labour supply in this occupation, it is expected that the number of job seekers will remain insufficient to fill job openings over the 2011-2020 period. Although employment growth will remain relatively high over the projection period, it will slow down significantly compared to the strong growth recorded in recent years. One of the main reasons for this slowdown is the budget freezes or cuts put in place by the federal government and some of the provincial governments. The slowdown will, however, be partially offset by the increase in the need to replace workers who retire. With regard to labour supply, the number of school leavers, who represent the vast majority of the job seekers, and immigrants will continue to increase; however, mobility will be more limited because fewer workers from other occupations will be attracted to this occupation as a result of the deterioration of its labour market conditions.
This Chart contains data for Projection of Job Openings vs. Job Seekers for Canada. Information is available in the following tables.
|Other Replacement Demand||5,490||6%|
|Projected Job Openings||85,229||100%|
|Projected Job Seekers||100,407||100%|
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.
|Industry / Sector||%|
|Professional, scientific and technical services||16.20|
|Finance and insurance||9.60|
|Other services (except public administration)||4.30|
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, 8% 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 (Economists and Economic Policy Researchers and Analysts) is part of a larger group called Policy and Program Officers, Researchers and Consultants (NOC 416). 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 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 47% 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 (Economists and Economic Policy Researchers and Analysts) is part of a larger group called Policy and Program Officers, Researchers and Consultants (NOC 416). According to the Labour Force Survey (2009), the unionization rate for this group was 43%, while the unionization rate for all occupations was 31%.
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