TORONTO – Despite a drop in economic activity over the next five years the demand for highly skilled workers and trades people is expected to remain strong says the latest Scotiabank Economics Report. Prospects are particularly good for those in the technology, health care and education fields.

"Canada has enjoyed a stellar job creation record in recent years, ranking as one of the best in the industrialized world. Between 1998 and 2002, domestic employment growth averaged 2.4 per cent annually, translating into more than 300,000 net new jobs per year," says Adrienne Warren, Senior Economist at Scotia Economics. "The expected rate of GDP growth over the next five years would be consistent with yearly job growth in the range of 1.5 per cent, or 200,000-250,000 net new jobs per year."

The report, titled Canada’s Evolving Jobs Market, also looks at five factors that will have an impact on the employment prospects of certain industries in the near future.

Economics: The business services industry may benefits from import competition, a strong Canadian dollar, and ongoing adoption of new technologies. On the negative side, manufacturing is expected to suffer.

Demographics: Health care workers, university and college teachers, and skilled construction tradespeople are all expected to experience shortages in different pockets of the country, especially in areas where the workforce is older.

Fiscal: Health care and education fields expected to benefit from funding promises from both federal and provincial governments. Meanwhile non-residential construction and business services will get a boost from increased infrastructure plans.

Regulatory: Technicians and analysts in the environment industry are likely to be in demand as the government implements the Kyoto Protocol.

Technology: Workers who can adapt quickly to new technologies will be in high demand, especially those with skills in development and application related services such as software development and multi-media.

The report can be found online at www.scotiabank.com.

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