Jobseekers are looking at new options compared to the beginning of the year because of the high demand for healthcare personnel and professional and technical services in Ontario.
According to the most recent prediction from TD Economics, Ontario’s real GDP growth will fall from 2.9% to 0.7% next year and only slightly improve to 1% in 2024.
According to the projection by economists Beata Caranci, Derek Burleton, Rishi Sondhi, and Jenny Duan, “after a strong first half, economic growth in Ontario is likely to drop considerably in the coming quarters.”
In response to this slowdown in the economy, it is anticipated that the unemployment rate in Ontario would progressively increase from 5.6% during the next two years to 6.3% in 2023 and then 6.7% in 2024.
Home sales are predicted to suffer, decreasing by a third by the end of this year, by another 16.4% the next year, and then finally recovering in 2024.
The average price of a home in Ontario is anticipated to weaken along with the slowdown in home sales, with economists projecting a 12.3% decline in home prices in 2019.
The economists observed that “Ontario’s job engine has also turned into reverse in recent months with the province shedding roughly 70,000 jobs between June and August and wiping out a significant portion of the gains earned after industries reopened earlier in the year”.
Production Of Electric Vehicle Batteries Is Boosting The Manufacturing Sector
Approximately $16 billion will be invested in Ontario’s emerging electric car manufacturing business, which is a bright area for the province’s economy. Stellantis has committed $5 billion to the sector and plans to build Canada’s first battery production facility.
According to TD Economics, “construction on this project is expected to start this year, with the facility becoming operational by 2024.”
As the economy adjusts to this new reality, foreign nationals considering Ontario as an immigrant destination under federal and provincial economic immigration programs, particularly the employer job offer streams, should exercise extra caution.
The top 10 jobs in Ontario are shown below.
1. Licensed nurses (NOC 3012)
Registered nurses and registered psychiatric nurses administer health education programs, give direct nursing care to patients, and offer consultation services on matters related to nursing practice.
On the Indeed.ca job website in late October, there were 13,460 job postings for registered nurses in Ontario.
Based on a 37.5-hour work week, the median annual salary for this profession in Ontario is $76,050.
2. Physicians – Family (NOC 3112) and Specialists (3111)
In late October, Indeed posted 7,080 vacancies for family doctors and specialists in Ontario.
Family doctors and general practitioners identify and treat illnesses, physiological conditions, and wounds. They earn a median yearly salary of $ 228,362 in Ontario.
Specialists, a group that includes surgeons, diagnose and treat illnesses as well as physical or mental disorders. They also serve as advisors for other doctors. The median surgeon salary in Ontario is $ 264,933.
3. Driver of a delivery truck (NOC 7514)
Drivers are in high demand in Ontario, with Indeed.ca advertising 11,613 positions for these employees as of late October. Drivers transport supplies, consumer items, and people to where they need to be.
According to Randstad, “the odds are you can find an available position to match, regardless of whether you have the training necessary to drive huge commercial vehicles or the attention to detail needed for local deliveries”.
According to the government’s Job Bank website, based on a typical work week, truck drivers in Ontario make a median annual salary of $40,950.
4. Operators of Heavy Equipment (NOC 7521)
Heavy equipment operators are in high demand for employment in surface mining and quarrying, material handling, construction, and maintenance of roads, bridges, airports, gas and oil pipelines, tunnels, buildings, and other structures.
In late October, Indeed.ca showed 1,036 positions for heavy equipment operators in Ontario, the majority of which were outside the Greater Toronto Area.
Based on an average workweek in Ontario, these workers, who are employed by pipeline, logging, cargo handling, public works departments, heavy equipment contractors, and other businesses, make a median annual income of $54,600.
5. Software Developer (NOC 2174)
These information technology professionals are in high demand since they are the ones that write, change, integrate, and test computer code for software applications, data processing applications, operating systems-level software, and communications software.
According to Randstad, “This is one of the top positions in part because organizations of all types and sizes need developers to design app solutions, develop or maintain internal software, or assist with the implementation of cloud or other technologies.”
“It was discovered recently during COVID-19 lockdowns that technology might make or break a company. Businesses that successfully made the switch to remote working environments frequently did better. It’s understandable why so many firms are looking for skilled developers when you consider the increasing necessity to rely on data and automation to stay competitive”.
According to Job Bank data, software developers in Ontario make a median annual salary of $78,000 based on a typical 37.5-hour workweek. In late October, there were 1,557 such job listings for Ontario on the Indeed job website.
6. Sales Manager (NOC 0601)
Sales managers are in great demand in Ontario since business development is a crucial component of every company, especially when the economy is slowing down.
According to Randstad, “with experience and an established track record, they can earn as much as $175,000 annually. Companies are prepared to pay a premium for the top staff because they close sales, build new client relationships, and generate money”.
In Ontario, there were 1,499 sales manager job opportunities on Indeed.ca as of late October. Based on a regular work week, Job Bank estimates that the typical annual salary for these positions is $102,375.
7. Cloud Architect (NOC 2171)
A good illustration of how continuing your education and gaining knowledge in a field can pay off after graduation is the profession of cloud architects.
These are the individuals who develop and implement plans, policies, and processes for the growth of information technology, analyze and test computer systems, and offer crucial guidance on a variety of system-related issues.
According to Randstad, “These positions pay handsomely since it takes a lot to become a viable candidate. The majority of cloud architects hold four-year degrees or have a comparable combination of education and experience. The possession of credentials obtained solely through demanding (and possibly expensive) examination may be a requirement for employment”.
The benefits include the security of knowing that there will be jobs available for this profession across Canada for the foreseeable future, as well as a median annual wage of $80,800 for a typical workweek in Ontario. In Canada, cloud architects have the best job prospects, according to Job Bank.
In late October, there were 1,789 cloud architect job advertisements on Indeed.
8. Construction Trades (NOC 7611)
Despite the recent slump in Ontario’s construction sector, there is still a tremendous unmet demand for tradespeople in this field.
These are the people who work on construction sites, in quarries, and in open-pit mines, typically for construction firms, labor contractors, and owners of surface mines and quarries.
For those looking to work in the building trades in Ontario, where Job Bank data shows they make a median annual income of $40,950 based on a regular work week, there were 13,036 job listings on Indeed.ca as of late October.
9. Machining Tool Operators (NOC 9461)
These are the people that maintain the machine shops in the businesses that fabricate, manufacture, and erect structural, plate work, and related metal items running well.
In late October, there were 4,776 machine tool operator job advertisements on Indeed.ca.
According to Job Bank data, their annual median income in Ontario is $66,500.
10. Food and beverage servers (NOC 6513) and Cooks (NOC 6322)
Due to an unprecedented labor shortage in the hospitality industry, Ontario’s restaurateurs are suffering greatly from a lack of cooks and servers.
In Ontario, Indeed posted 3,694 jobs for servers and 6,171 jobs for cooks in late October.
Based on a 37.5-hour workweek, the average yearly wage for a cook or waiter in Ontario’s hotel industry is $30,712.
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