The Big Story
What will the job market look like in 2025?
Jan 2, 2025
Brendon Bernard, a Senior Economist at Indeed specializing in the Canadian labor market, dives into the shifting job landscape towards 2025. He discusses regional disparities, emphasizing the growth in healthcare and engineering while retail and tech face declines. The conversation explores how interest rate shifts and immigration policies will shape opportunities for job seekers. Bernard also highlights the rise of AI-driven roles alongside the challenges posed by stagnant hiring trends. Insightful analysis for anyone navigating the future job market!
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Quick takeaways
- The Canadian job market in 2025 will be significantly influenced by regional disparities, with some areas experiencing job growth while others face declines.
- Federal immigration policy and broader economic conditions, including monetary changes, are expected to play crucial roles in shaping employment opportunities.
Deep dives
Current State of the Canadian Job Market
The Canadian job market in 2024 has seen a notable decline, following a strong post-pandemic recovery phase. Job seekers, particularly those looking for new employment opportunities, are facing significant challenges. For instance, the rate of individuals aged 15 to 24 who had never worked before rose to 25%, reflecting the difficulties younger people face in securing their first jobs. The overall job market is characterized by slower reemployment rates, with an increase in long-term joblessness and a stagnation in job-hopping among employed individuals.
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