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B.C. expecting to lose 600k workers to retirement in next decade

People wearing face masks walk on a street in Vancouver, British Columbia, Canada, on Dec. 27, 2021. © Liang Sen/Xinhua via ZUMA Press

British Columbia is forecasting more than 630,000 people will retire from their jobs through 2032, which will force employers to restock the workforce.

The province is projecting there will be about 1,004,000 total job openings over the next decade, including the retirements.

The remaining openings, about 370,000, will be connected to economic growth and COVID-19 pandemic recovery.

The Labour Market Outlook is forecasting nearly 80 per cent of these future job openings will require some level of post-secondary education or training.

Click to play video: 'B.C. Budget 2021: Helping post-secondary students transition to the labour market'
B.C. Budget 2021: Helping post-secondary students transition to the labour market

“Despite the challenges of the past two years, there are new opportunities ahead for people looking for good-paying careers,” Advanced Education and Skills Training minister Anne Kang said Monday.

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“We’re working to break down barriers and expand affordable post-secondary and skills training opportunities so that with the right supports, the people of British Columbia can benefit from the good jobs this report projects.”

The jobs will be heavily focused in Metro Vancouver but the province is working on supporting job growth in other parts of the province. However, the province acknowledges there may be more opportunities to work remotely coming out of the pandemic.

The province has launched a new interactive career transition tool is available in multiple languages at WorkBC.ca.

The online tool will allow job searchers to access online resources, in-demand jobs and employers can be guided in their business planning.

The largest number of job openings are expected in the health care, social assistance and education industries.

Read more: Why looking for a new job now could be a big payoff

This will in part include jobs in early childhood education, counselling, child protection and community housing and food services.

Science and technology jobs will also be in high demand with 111,000 job openings projected and 85,000 job openings expected in skilled trades, which will offer careers ranging from cooks and automotive service technicians to construction workers and hairstylists.

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“B.C. continues to lead Canada’s economic recovery with more than 100,000 jobs added in 2021,” Jobs and Economic Recovery minister Ravi Kahlon said.

“By continuing to invest in people, we will build a stronger, more inclusive workforce and prepare British Columbians to compete on a global stage.”

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The province’s Labour Market Outlook takes information from BC Stats, the B.C. Ministry of Finance, Statistics Canada and other federal departments.

An economic modelling system then analyzes the data collected and other factors affecting labour market supply and demand.

The outlook forecasts 653,200 job openings in the Lower Mainland, 161,500 jobs on Vancouver Island and 115,500 jobs in the Thompson-Okanagan.

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