Regional Labour Market Information and The Executive Job Search
Career Professionals of Canada recently hosted a teleconference on the regional labour market, with particular emphasis on labour market details across Western Canada. With ongoing shifts in employment across the country, knowing what labour market information (LMI) is and how to leverage regional economic influences as part of a job search is very beneficial for job seekers of all levels –ย including executives.
LMI statistics can include data on employment and unemployment, labour regulations, demographics of workers, job vacancies, companies hiring, qualifications needed for specific jobs, and compensation and benefits.
How can savvy executives use labour market information?
- Leverage data to support short and long-term career planning. Executives can use LMI to identify occupations and industries in need โ both immediately and in the future โ and determine if these needs align with personal offerings and skill sets. If particular roles are more prevalent in different parts of the country, a relocation might need to be pursued.
- Identify labour market trends. Again, job market changes and occupational forecasting can be analyzed to determine strategic employment choices, advancement opportunities, or career changes.
- Compare wages across regions and occupations. Researching LMI can help executives determine salary ranges for a level of position, by region and industry, and to support employment negotiations and value offering.
- Discover regional employment prospects and opportunities. When itโs time to engage in an employment search, LMI can help focus an executiveโs job search strategy and narrow targets, eliminating the guesswork around where the demand lies in the country for people of similar stature and position.
To locate current labour market information, career professionals from across Canada recommend the following tools and resources:
- National Occupational Classification (NOC)
- Statistics Canada
- Job Bank โ Government of Canada site. User-friendly source for LMI.
- Industry Associations
- In BC: Business in Vancouver; Book of Lists; Rocket Builder (for IT); Work BC site; Discover Skills BC
- In Central Canada: Invest Ottawa (Book of Lists)
- Local Business Journals / Canadian Business Journal
- Government Websites
- Job Futures site in each Province
Data shared at Career Professionals of Canadaโs teleconference included statistics for western regions and provinces, emphasizing industries in current or projected growth mode:
- British Columbia: Long-term projected growth shows diversity depending on the different regions within the province. Predicted demand is seen in the areas of healthcare, technology and science, natural resources, manufacturing (food, wood, machinery, transportation equipment), mining, motion pictures and video game development, and recreation.
- Alberta: Not as many areas in growth mode due to the downturn in the oil & gas industry, but some higher demand areas in the short term include: computers and technology, construction, automotive, and retail and food services supervision.
- Saskatchewan: Short-term outlook shows demand at all educational and skill levels, but in particular need are across the areas of: sales and service, management, and business finance and administration.
- Yukon: The labour market performed well in recent years, with the highest employment rate in Canada being found in the Yukon. Low unemployment in this area means that demand is anticipated to rise in all areas.
- Manitoba: Modest income increases are projected, with balanced demand in upcoming years.
Additional strategies and final tips to support your executive job search:
- Understand that we now live in what is known as the โgig economyโ, where short-term contracts and part-time opportunities are more prevalent than long-term career positions. ย Weave this strategy into your career planning and short-term employment plans.
- Although LMI can seem confusing and complex, it is extremely valuable and should be used to support all career decisions. Employ a career expert to help navigate statistics.
Ready to engage in a job search now?
Read “Dear Job Seekers...” โ for a robust breakdown of job search steps and strategies for all levels of job seekers.
