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Career Outlook

National Outlook – 10-Year Projection (2011-2020)

This section provides labour demand and labour supply projections for this occupation over the 2011-2020 period.

Note: The tables, graphs and middle paragraph shown under this section display updated 2011-2020 projection results. The remaining narrative text (2009-2018 projections) will be updated shortly. We apologize for the inconvenience.

The data in the following table are derived from HRSDC's Canadian Occupational Projection System (COPS). COPS uses a variety of models to produce a detailed 10-year labour market projection per broad skill level and per occupation at the national level, which focuses on the trends of labour supply and labour demand over the next ten years.

This occupation( Financial Managers )is part of a larger occupational group called Administrative Services Managers (NOC 011).


Occupations in this group

Financial Managers (0111)
Human Resources Managers (0112)
Purchasing Managers (0113)
Other Administrative Services Managers (0114)

Employment (non-student) in 2010 112,348
Median Age of workers in 2010 44
Average Retirement Age in 2010 60

Occupation Projection for Canada

Over the 2006-2008 period, employment growth in this occupation was just above the occupational average. The unemployment rate rose, but remains very low. The average hourly wage increased less rapidly than the occupational average. According to key labour market indicators, the number of job seekers was sufficient to fill the job openings in this occupation.

Over the 2011-2020 period, an occupation will be in excess demand (a shortage of workers) if the projected job openings (arising from expansion demand and replacement demand) are greater than the projected job seekers (arising from school leavers, immigration and mobility), while an occupation will be in excess supply (a surplus of workers) if the projected job seekers are greater than the projected job openings. For Administrative Services Managers, over the period of 2011-2020, job openings are expected to total 53,976. It is expected that 61,939 job seekers will be available to fill these job openings.

Given that labour supply and demand in this occupation were balanced, projections indicate that the number of job seekers will remain sufficient to fill job openings over the 2009-2018 period. The majority of job openings will arise from retirements. Since several years of labour market experience are generally needed to occupy a management position, workers in this occupation are typically older than the occupational average. Economic growth (expansion demand) will also represent a major source of job openings over the 2009-2018 period. Economic recovery and the stabilization of public finances in the longer term will enable the creation of new positions for senior managers in administrative services. In terms of supply, job seekers will come from both the school system and other occupations (mobility). In the latter case, workers who have considerable experience in finance, public administration or trade, as well as solid management skills, will be good candidates to become administrative services managers. The majority of job seekers from the school system will have completed graduate studies in business, or will be experienced workers who returned to school to improve their skills, especially by completing a management training program (MBA).

This Chart contains data for Projection of Job Openings vs. Job Seekers for Canada. Information is available in the following tables
Accounting and Payroll Administrator

Category Openings %
Expansion Demand 11,986 22%
Retirements 35,803 66%
Deaths 3,704 7%
Emigration 2,484 5%
Projected Job Openings 53,976 100%
 
Category Seekers %
School Leavers 21,880 35%
Immigration 6,507 11%
Net Mobility 33,552 54%
Projected Job Seekers 61,939 100%



What proportion of men and women work in this occupation?

The graph displays the proportion of people in this occupation who worked full-time and part-time in comparison to the Canadian average across all occupations.

According to the Labour Force Survey (2009), women represented 51% of workers in this occupation, compared to the average of 48% for all occupations.

Accounting and Payroll Administrator




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