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 (Financial Managers) is part of a larger occupational group called Administrative Services Managers (NOC 011).

Occupation Projection for Canada

Over the 2008-2010 period, this occupation experienced a slight decrease in employment and its unemployment rate increased at the same pace as the rate for all occupations. The average hourly wage increased as quickly 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 Administrative Services Managers, over the 2011-2020 period, job openings (arising from expansion demand and replacement demand) are expected to total 53,976 and 61,939 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. Since several years of labour market experience are generally needed to occupy a management position, workers in this occupation are typically older than the average for all occupations. Economic growth (expansion demand) will also represent a significant source of job openings over the 2011-2020 period. Economic recovery and the stabilization of public finances in the longer term will help to create new positions for senior managers in administrative services. With regard to labour supply, job seekers will come from both the school system and other occupations (mobility). In the latter case, workers who have considerable experience in finance, public administration or business, as well as solid management skills, will be good candidates to become administrative services managers. Most job seekers from the school system will have completed graduate studies in business, or will be experienced workers who returned to school to improve their skills, especially by completing a management training program (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, 7% of people in this occupation were self-employed, while the average for all occupations was 12%.

The data from the Labour Force Survey (2009) regarding self-employment for this group are not sufficiently reliable to be published.

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 51% 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 (Financial Managers) is part of a larger group called Administrative Services Managers (NOC 011). According to the Labour Force Survey (2009), the unionization rate for this group was 12%, while the unionization rate for all occupations was 31%.