Employment Opportunities and Aging Population

With more and more baby boomers reaching the age of retirement, demographic changes will inevitably lead to modifications in labour economics. Despite this social upheaval, a range of options are available to compensate for a reduction in the workforce.

Solutions for the Future

Since several hundreds of thousands of positions will have to be filled when baby boomers will leave the job market to retire, Emploi-Québec expects a decline in the unemployment rate for the years to come.

The professional integration of young Canadians and other groups which have experienced high unemployment rates, such as Natives and immigrants, could contribute to mitigate the negative impact of the ageing population and lead to full employment.

In order to maintain a pool of highly-qualified personnel, more and more older workers will choose to pursue their career. Baby boomers who will delay their retirement will profit from better work conditions, and have more flexible hours, or will become consultants.

Employers are going to have to retain seasoned employees as well as plan their succession. Younger workers will have to gain professional experience faster than their elders, and develop their knowledge and competences, in order to be able to replace baby boomers going into retirement.

Trades and Occupations in Demand

Of course, this aging population will create new needs, especially in terms of health care. The demand for health care professionals such as doctors, nurses, pharmacists, medical technicians or technologists, as well as for social welfare workers, will continuously increase over the coming years.

Nursing care needs have increased, yet nurses’ tasks have become more complex because of the aging population. The Ordre des infirmières et infirmiers du Québec (OIIQ) thus recommends further learning, and encourages its older members to take part in training the next generation.

Furthermore, when baby boomers will retire, thousands of accountants, notaries, lawyers and engineers will have to be replaced. Even the manufacturing sector, which has experienced a decline, should be in high demand.

The banking sector is already facing an increasing demand for new personnel. Financial institutions, aware that certain positions can take years of in-house training, are already recruiting university students who show great potential.

Young graduates of technical programs who have just finished CEGEP will be in high demand. Favorable prospects for the future also await students of college programs such as denturology, computer science, geomatics, office technology, mineral technology, engineering and architectural technology, animal health or radiation oncology.

Let Your Experience Benefit Others

With the Rétro-Action 50+TM program, Télé-Ressources consultants can promote your talents and competences to their clients, and focus on the benefits of hiring mature employees with vast professional experience. Workers over 50, who master their trade and are very knowledgeable, represent a key asset for a multigenerational team.

If you want to stay active, you can always delay retirement by choosing phased retirement or temp work, for example. When you keep on working later in life, employers can continue to benefit from your expertise.

As an experienced professional, you can act as mentor to the younger generation, and share your wisdom. An exchange of information, between Gen Y members and some baby boomers who may need refresher courses to stay on top of technological developments, should be considered.

Even though the ageing of the largest cohort in the history of the country is bound to cause socio-economic changes; the future of the job market seems favorable. According to Emploi-Québec, young people, qualified immigrants and older workers who stay active will help fill in vacant positions.