Written by Michael J Weiler
Mike Weiler is an active member and committee member of the BC Chamber of Commerce. Through that, Mike also participates as a member of the Employee Relations Committee of the Business Council of British Columbia. The Business Council’s December 2015 issue of “Human Capital Law and Policy” newsletter reviews the provincial government’s updated labour market supply-demand outlook publication.
That issue of the Human Capital Law and Policy newsletter begins with the following HIGHLIGHTS:
- The new British Columbia 2014-2024 Labour Market Outlook report projects a cumulative 935,000 job openings in the province over the next decade.
- Over two-thirds (68%) of these job openings will be ‘replacement’ positions (mostly due to retirements among the current workforce).
- Overall, the projections suggest BC’s labour market will be in rough balance over the coming decade. Circumstances have shifted since the previous 2012-2022 Labour Market Outlook was produced. It foresaw aggregate labour shortages emerging by 2019.
- Most of the relevant variables, such as economic growth, retirements, and migration numbers, that enter into the forecasting process signal somewhat weaker demand and a greater supply of workers than was expected when the 2012 Labour Market report was developed.
- Tighter labour market conditions and moderate shortages of skilled workers are still expected in certain regions of the province by the 2020s.
- Consistent with increasing urbanization, a surplus of labour is anticipated in the Lower Mainland area.
- The 2014-2024 Labour Market Report includes detailed projections for 500 distinct occupations. Anyone interested in BC’s labour market or future job opportunities is encouraged to read the report [of the BC Ministry of Jobs, Tourism and Skills Training].
Follow this link to see the full Business Council of BC Human Capital Law and Policy December 2015 newsletter.