The big picture

As bad as the economic news has been lately it pays to remember that there are other forces at play that will have even a larger impact on the labour market.

Economic fortunes can swing up and down but Canada’s demographic picture is set in stone (more or less). In short order many British Columbians will be in a position of wanting to retire. An article in the Vancouver Sun can provide you with some of the statitical details.

By 2015, 30 per cent of B.C.’s population will be over the age of 55.

Demographics and baby boom retirees guarantee that when the economic clouds eventually clear, we’ll still be facing unprecedented labour shortages that threaten the province’s growth and prosperity.

Even if the current downturn were to bring all new job growth in B.C. to a screeching halt between now and 2015, we would still be critically short of workers.

Also just to provide a little more perspective, Victoria continues to have the lowest unemplomyent rate in the country.

One Response

  1. […] – the numbers don’t lie Posted on February 19, 2009 by Tony Abbis Back in January I blogged about Canada’s overall demographic picture was more important in terms of the labour market […]

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