What does employment look like in NL in 2019? What are the skills required for the future? What job opportunities can we expect to see in the next 10-20 years? What opportunities does our current demographic situation offer the labour market?
Minimum Wage Earners in NL 2018
There are more women minimum wage earners than men in NL. 28% of workers aged 15-24 earn minimum wage, whereas just 3% of workers ages 45-54 earn minimum wage. Nearly 17% of workers with less than high school graduation earn minimum wage, compared to just 3% of workers with a university degree. 21% of workers in the Accommodation and Food Services sector earn minimum wage, compared to some sectors which have no minimum wage earners.
Source: NL Statistics Agency
Minimum Wage 1979-2018
Minimum wage has nearly quadrupled since 1979. It is currently the second to lowest in the country.
Skills for NL’s Future
Dr. Lynn Gambin, Faculty of Humanities & Social Sciences (Economics), Memorial University
Like many other economies, there are a number of drivers of change in the labour market that will present challenges for NL over the next 10-20 years: an aging population, the global move towards green and sustainable energy, and fast-paced technological change. While such challenges may be viewed pessimistically, they can also present opportunities for the NL economy and labour market. Capitalizing on such opportunities requires appropriate planning to ensure that there is suitable infrastructure in place, including education and training programs in relevant areas, to capitalize on emerging and changing economic activity.
Occupational Projections 2019-2028
Demand for workers refers to the number of workers required to meet projected positions in a given category. Job openings refers to the number of positions expected to become available (considering any increase or decrease in activity in the sector, as well as attrition). While some areas may see a decline in demand, there may still be job openings due to the amount of people retiring. The Manufacturing and Utilities category is expected to see a 30% increase in the total number of positions.
Source: Gov NL
Automation in the Fishing Industry
For many, the word ‘automation’ is synonymous with ‘loss of jobs.’ But for Gilbert Linstead, General Manager of the Labrador Fishermen’s Union Shrimp Company (LFUSC), automation is the key to preserving Newfoundland and Labrador’s rural labour force, which he says is threatened by outmigration.
Older Workers (Age 55+ )
Both the rate of labour-force participation (including individuals looking for work) and the proportion of older workers within the labour force have increased from 2008 to 2018. Source: Statistics Canada
The Silver Ceiling
There has been seemingly endless discussion about Newfoundland and Labrador’s aging and dwindling population, and the potentially negative impacts that it will have on the labour force and the economy as a whole. However, this aging population also presents an opportunity for employers in the province.