By Mark Swartz
Monster Senior Contributing Writer
What will the economy bring for Canada in 2012? Positive news overall, as energy prices and demand for our exports remain reasonably high.
Did you know, for example, that Canada is the largest single exporter of oil to the United States? Or that over 20% of the world’s entire supply of potash – a chemical used in various fertilizers – is produced right here?
While our natural resources are abundant, so are Canada’s manufacturing facilities, services sectors, and other job-generating areas across the country. Our banks are sound and our workforce is engaged. That’s what has made us so resilient despite headwinds from other parts of the globe.
Overall Growth Prospects For 2012
According to the Conference Board of Canada’s “Economic Insights” report from Autumn 2011, nearly 370,000 additional jobs are forecast to be added here for 2012. This amounts to a 2.1% increase over the previous year’s total. Not bad at a time when Europe and the U.S. are experiencing challenges of their own.
Where will all these new Canadian jobs come from? They’ll be created across a variety of sectors in provinces from Newfoundland and Labrador to British Columbia. We take a look below at some highlights of the places where job growth in Canada is expected to be strongest.
The Atlantic Provinces
Newfoundland and Labrador is having an unprecedented energy and resources boom. With about $43-billion worth of projects in process, a shortage of skilled workers is foreseen.
Over in Nova Scotia, one of the
Halifax area’s largest employers won the contract to build $25-billion worth of combat ships for the federal government over the next 30 years. Initial production could start by late 2012.
Quebec
In the province of Quebec,
Montreal is poised for jobs growth in aerospace - at such companies as Bombardier and Pratt and Whitney – as well as in video gaming.
For
Quebec City, in 2012, Non-Commercial services is forecast to grow as a category by more than 5,500 jobs. This is a bright note for teachers, other educators, healthcare workers and those in social services.
Ontario
Hamilton, Ontario is seeing a modest rebound in housing construction. As a result, Finance, Insurance, & Real Estate are poised to add additional jobs. Also this Canadian center for steel production will create more manufacturing positions.
Ottawa, Ontario – the capital of Canada – is normally known for its large number of government jobs. However in 2012 it is Construction that will expand. So will Non-Commercial services.
Toronto, Ontario should see a solid rise in banking and finance jobs, given that the city is an international finance hub. The Personal Services sector will show healthy growth as well.
Western Canada
In the province of Manitoba, it is projected that
Winnipeg will produce more jobs in two particular Service sectors. One is Transportation. The other is Business Services.
Saskatchewan is primed for expansion due to an explosion in demand for natural resources such as potash, oil, and gas. You can see this in
Saskatoon, where the Goods sector – which includes Manufacturing, Natural Resources, Utilities And Construction – is expected to produce 9.3% more jobs.
Meanwhile in
Regina, Saskatchewan, Construction is on the verge of creating 1,100 new jobs. Better yet is Wholesale and Retail Trade, which will be up 1,800 jobs.
Alberta is also benefiting from worldwide demand for oil and gas. This is evident in
Calgary, a diversified city, where jobs in petrochemicals and resources will be plentiful. As employers in this field expand, they need additional IT people as well.
The
Edmonton, Alberta region too will experience jobs growth along with Alberta’s primary resource sector. Accordingly the city should see a boost in positions for Transportation and Warehousing. Another growth area there will be Finance, Insurance and Real Estate.
British Columbia will be home to some impressive jobs growth in 2012.
Victoria is the province’s capital city. There we will see above average increases in Non-Commercial services, as well as in Wholesale and Retail Trade.
Scenic
Vancouver, British Columbia, with its proximity to the Pacific Rim, has some bright spots for employment growth for 2012. One of its local employers, Seaspan Marine Corp., will begin an $8-billion deal to build non-combat ships for Canada’s navy and coast guard. Film and movie production is a year-round job producer as well.
Potential Drags On Growth
Decreased demand for our natural resources is a possibility if countries such as China and the U.S. experience an economic slowdown. There may also be a tightening of the fiscal belt by our government. Moreover the European financial situation could negatively impact Canada’s economy.
For More Information
Details about employment statistics are available at
Statistics Canada.
Read more about industry growth, economic outlooks and career opportunities in
Halifax,
Montreal,
Quebec City,
Hamilton,
Ottawa,
Toronto,
Winnipeg,
Saskatoon,
Regina,
Calgary,
Edmonton,
Victoria,
Vancouver.