Employment Picture Positive One For Next 9 Years

Wednesday, June 30, 2010 03:56 AM

Prince George, B.C.- The monthly economic update provided by Initiatives Prince George indicates the labour market outlook for the next 9 years is positive.

According to a report produced by Labour Market Development in conjunction with B.C. Stats, business expansion and replacement are the major components of future employment demand, generated through economic and industry growth, and by the need to fill permanent workforce attritions due to retirement and death.

In both the Central interior and in BC, 40% of job openings over the projection period will be due to expansion and 60%

will be due to replacement demand.

The report indicates the BC labour market is expected to gradually recover from the effects of the global recession, with tight labour market conditions returning for most regions. In line with growth in BC, employment in the Central Interior is projected to grow by an annual average of 1.8% over the ten-year period, in contrast to an average annual decline of 0.7% over the previous decade.

The labour force is projected to grow by an annual average of 1.2% over the decade. In addition to employment generated by the expansion of the economy, nearly 30% of those employed in the region in 2009 will need to be replaced by 2019.

Over the projection period, the total number of job openings in the region will exceed 40,000, or 50% of current levels.

The report outlines the types of jobs which will see the greatest needs for expansion or replacement of retirees:

Trades, Transport and equipment operators and related occupations are expected to account for the largest proportion (20.0%) of the total job openings over the period.

Sales & Service Occupations and Occupations in Social Science, Education, Government Service & Religion.

These occupations account for 19.9% and 9.6% of projected openings, with more than 60.0% of the openings due to replacement.

Business, Finance & Administrative Occupations are projected to account for 15.7% of total openings, fairly evenly split

between expansion and replacement.

Health Occupations will account for 8.9% of total job openings, with 59.9% of those openings from new positions.

This is the highest proportion of openings as a result of expansion, with nursing and assisting occupations in health accounting for 63.0% of openings in this occupation group.

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Posted on Wednesday, June 30, 2010 03:56 AM in News by 250 News

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Comments

Posted by: gus on June 30 2010 6:56 AM

http://www.sgog.bc.ca/uplo/PG_development_opps_Altus.pdf

That link is to the famous Altus group report prepared for the SGOG project. It projected an average growth of 0.19% per year which would mean a City population of 76,200 by 2020.

With that kind of population projection, how could we possbily have a 1.8% increase in empoyment per year in jobs? Maybe they mean gross new employment rather than net total employment that accounts for attrition.

If it is meant to be total employment increase, how can we determine which projection is the more likely represents where we are heading?

SO

Posted by: He spoke on June 30 2010 7:11 AM

Don't worry the NDP will get rid off good paying resource jobs. Like they always have.

Posted by: DPJ on June 30 2010 9:03 AM

if there are jobs available, people will move here due to the lower house prices and better standard of living (not like that radio station is saying).

Posted by: gus on June 30 2010 10:20 AM

Yes they will. The question is how was the projection made? What indicators did "they" refer? This should be a living tool that can be adjusted as the years go on with the addition of events which were predicted as well as those which were not predicted.

Planningtools are not perfect, but with computerization, models can be created which provide an improved predictive tool.

Posted by: camoose on June 30 2010 10:23 AM

Wow, I did not realize that things were this good. All this on top of building permits being up for the last 85 years or so. I guess a guy should rush right out and spend what's left of his pension after taxes. (HST, Carbon Tax, etc.)Times are good.

Posted by: my2bits on June 30 2010 2:47 PM

Give me a break! For the next 9 years?

Just like they forecast in 2007 that everything would be so rosy for the next 10 years.

These guys have no idea what's going to happen down the road. We have absolutely no control over the world markets.

Something like those who credit the Campbell government for the boom we experienced in the middle 2000s. As though any of his policies contributed to the world demand and price for commodities.

Some people just have to come out with something to justify their salaries.

Posted by: Palopu on June 30 2010 10:24 PM

If the forcast comes from IPG then I suggest that they would be using a Crystal Ball or else Chicken bones thrown on the ground and pushed around with a stick.

This outfit has never made a prediction that was not positive since its inception. Every thing comes up roses.

Are we to beleive that everything has been great in this town since IPG was established, or are they just spouting propaganda, and generally doing whats necessary to ensure that they get their budgets and continue to have job security.

This town has been in a downward spiral for a number of years, and continues up to and including to-day. The only thing keeping some people working is Government projects, however in the next few years these projects will be completed, and if there is no upturn in the private sector then we are really going to be in trouble.

Maybe IPG can give us a forecast about what new business will be locating here in the next few years. And while they are at it maybe they could give us the scheduale for the Wide Body Cargo Jets, and Passenger Jets that will be landing in the next few years. Plus the number of new jobs created by the CN Intermodal Facility on River Road. Or maybe they could give us some indication as to when or if Winton Global, or Rustad Bros. will re-open.

On the other hand those things are specifics, and we wouldnt want to deal with specifics now would we????