The Big Story What will the job market look like in 2025?
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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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Job Market Weakening
- The Canadian job market weakened throughout 2024, impacting job seekers most.
- Job security remained stable for those already employed, but finding new jobs became harder.
Factors Influencing 2025 Job Market
- Employer hiring demand is key to job market improvement in 2025.
- Bank of Canada rate hikes and a potential Canada-U.S. trade war create uncertainty.
Regional and Sectoral Job Prospects
- Job prospects vary by region and sector in Canada.
- Less populated areas have more job postings, while larger cities like Toronto and Vancouver have fewer.