February 28, 2025 (press release) –
INFORMATION BULLETIN For Immediate Release
2025PSFS0001-000158
Feb. 28, 2025 Ministry of Post-Secondary Education and Future Skills Labour market forecast lands amid tariff threats, immigration cap
VICTORIA – B.C.’s new 2024 Labour Market Outlook (LMO) estimates more than one million job openings in B.C. over the next decade.
The 2025 LMO will consider the impacts of U.S. tariffs on Canadian goods and federal changes to immigration levels.
The LMO delivers a comprehensive forecast of job-market trends over the coming decade. Its purpose is to help current and future post-secondary students, organizations, workers and employers make informed decisions about careers, skills training, education and hiring.
The 2024 edition uses data collected until April 2024, before changes in the federal immigration targets. Slower population growth will impact labour supply, the demand for some goods and services, and the demand for workers in certain sectors, all of which have implications for the provincial economy. The 2024 LMO was likewise created prior to the U.S. government’s threats to impose tariffs on Canadian goods.
The accuracy of any forecast depends on various assumptions about the future, some of which are difficult to anticipate. Due to this, labour market forecasts are updated annually to factor in changing circumstances. Work is underway on the next edition of B.C.’s LMO.
Compared to the 2023 edition, the 2024 LMO projected 122,000 more job openings for a total of 1.12 million over the next 10 years. Of these job openings, 449,000 are identified as the result of economic growth, with the remainder due to replacing retiring workers. By 2034, employment is projected to reach 3.3 million, up from 2.8 million today for average annual growth of 1.4%.
As government works with partners to safeguard B.C.’s economy and respond to the threat of tariffs, the Province will continue to make education and training more accessible, affordable and relevant, and will continue to prioritize sectors with labour shortages to ensure B.C. has a skilled workforce.
Learn More:
For the 2024 edition of the B.C. Labour Market Outlook, the online dashboard, and other links, visit: https://www.workbc.ca/research-labour-market/bc-labour-market-outlook-2024
A backgrounder follows.
Contact:
Ministry of Post-Secondary Education and Future Skills
Media Relations
250 889-9334
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