The creation of new jobs is an essential part of a growing economy. In the wake of Covid-19, the job market remains in state of recovery. Its progress is largely dependent on the trajectory of the public health situation and emerging job trends.
While it is important to identify emerging trends that may positively impact economic growth, it is also essential to understand which jobs are in decline so as not to get stuck in a career that goes nowhere.
During the pandemic, some of the biggest job losses occurred in the service sectors like food, hospitality and travel. Slowly, these sectors are on the rebound. The latest job figures released by Statistics Canada show employment rose by 90,200 last month, a third consecutive monthly increase. Furthermore, the unemployment rate dropped to 7.1%, the lowest since February 2020.
In a previous edition, we explored some of the fastest growing jobs in North America, projected in the next decade. The majority of growth forecasted is in the areas of healthcare, green energy and information technology (IT). The pandemic may have intensified the need for certain jobs in some areas.
Understanding which occupations are in decline could have an impact on planning for the future. The constant innovation in technology has a significant impact on people employed as word processors and typists.
In the next ten years, these jobs are among the fastest declining in North America and expected to drop by 36%, according to data from the US Bureau of Labour Statistics (BLS). Although the figures are from the US, they reflect similar job trends in Canada. A drop of that magnitude represents the loss of nearly 16,300 jobs in a field with a median annual salary equivalent to $51,910 CAD.
With the growing number of cars on the road and the shrinking number of available parking spots, it is surprising to find parking enforcement officers on the list. In the next ten years, jobs in this field are expected to decline by 35%. That represents a loss of 2,800 jobs for the beloved parking enforcement worker.
Perhaps more people are choosing a “greener” means of transport as greater focus is placed on developing a more sustainable future. That may also explain why nuclear power reactor operators face a decline of 33% in the next decade, equivalent to 1,800 less jobs in that field. Following the construction of the nuclear power plants in the early 1990s, no new plants have opened in North America as industry leaders transition to more renewable sources of energy.
Aside from the fact that the average annual salary for a nuclear power reactor operator was among the highest paying occupations in this grouping, the majority of employment losses occur in occupations with lower wages. An increase in automation is also likely to wipe out a great number of jobs. Typically, some of the jobs falling by the wayside are those that only required a high school diploma.
The next generation of jobs which include functions related to ecommerce, IT and healthcare involve greater emphasis on higher education and the flexibility to pivot in an ever-evolving workforce.
