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Jobs, skills and income for the 21 st century January 2013.

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Presentation on theme: "Jobs, skills and income for the 21 st century January 2013."— Presentation transcript:

1 Jobs, skills and income for the 21 st century January 2013

2 A changing picture

3 Responding to demand Source: Statistics Canada data and AUCC estimates

4 “We’re number 15.” What? Canada’s competitive advantage in university attainment is eroding… Source: OECD, Education at a Glance 2012

5 And by some measures, we rank even lower * Four-year age cohort with highest enrolment Source: AUCC estimates using OECD database, 2012 Canada was 21 st in university participation in 2010

6 Source: OECD, Education at a Glance 2012 “But aren’t we #1?” College attainment rates age 25 to 64

7 Universities deliver more – with less Government “Net” tuition Gifts and donations

8 Canadian university graduation rates better than the U.S.

9 Demand for university graduates is growing High school or less PSE certificate University degree Source: Statistics Canada, Labour Force Survey Trade certificate Jobs for university and college grads have more than doubled

10 High-quality jobs: a path to prosperity Since 1990 1.7 million more jobs in professional areas – 1.4 million for university grads For college grads, the job growth focused on technical; clerical; sales; and trades areas

11 Job growth for university graduates remains strong Source: Statistics Canada, Labour Force Survey July 2008 to July 2012 15% more jobs than in 2008 5%

12 University graduates in demand everywhere Source: Statistics Canada, Labour Force Survey Alberta: 1000s of new jobs for university graduates between 2000 and 2011

13 The majority of jobs facing skills shortages require a university degree Managers in engineering, architecture, and science Managers in health, education, social and community services Managers in construction and transportation Auditors, accountants and investment professionals Human resources and business service professionals Professional occupations in natural and applied sciences Physical and life science professionals Professional engineers Physicians, dentists, pharmacists and veterinarians Optometrists, chiropractors and other health diagnosing and treating professionals Registered nurses, dieticians, therapists Medical technologists and technicians Technical occupations in dental health care Psychologists, social workers, counsellors, clergy and probation officers Supervisors and underground miners, oil and gas drillers and related workers Supervisors in manufacturing Supervisors, processing occupations Sources: CIBC World Markets, The Haves and Have Not’s of Canada’s Labour Market (December 3, 2012)

14 The unemployment myth Source: Statistics Canada, Labour Force Survey, 2011

15 The myth of growing student debt 200020032005200620092012 Percent of graduates with no debt * 44%41%46%41%42%41% Average amount of debt in 2012 dollars $25,857$23,745$25,911$26,802$28,359$24,579 Sources: Canadian University Survey Consortium (CUSC), Graduating Students Survey; Statistics Canada, National Graduate Survey (NGS). * In 2012 one-third of those with debt owe less than $12,000.

16 Plan ahead for tomorrow Source: Statistics Canada, 2006 Census, full-time, full year work By end of career, earnings are double

17 University pays dividends Level of educationAverage annual income (2005) Accumulated income advantage over high school graduate High school certificate or equivalent$ 41,200Baseline Comparator Trades certificate or diploma$ 40,600$ (70,000) Registered Apprenticeship certificate $ 51,000$ 340,000 Total College or CEGEP$ 48,200$ 280,000 Bachelor’s degree (s) (including LL.B.) $ 71,300$ 1,320,000 Master’s degree (s)$ 89,000$ 1,800,000 Earned doctorate$ 94,200$ 1,830,000 Medical, dental, veterinary medicine or optometry $ 151,600$ 4,260,000 Source: Statistics Canada, 2006 Census of Population

18 18 Study what you love Source: Statistics Canada, 2006 Census of Population

19 Motivation counts Source: Statistics Canada, 2006 Census of Population

20 So, what’s the story with colleges? % of graduates Employment rate % working full-time Relationship between job and program of study Unemployment Rate Applied arts40%84%61%38%16% Business29%80%66%46%20% Technology19%81%72%50%19% Health13%87%61%49%13% College Total Salary in related jobs $35,500 83%65%44%17% Bachelor`s graduate 6 months out (2008-09) Salary $43,000 92%78%8% Bachelor`s graduate 2-years out (2008-09) Salary $49,500 94%84% 6% Source: Ministry of Training Colleges and Universities: A Summary of the Employment Experience of 2009–2010 College Graduates Six Months After Graduation and COU 2010 Survey Highlights: Employment Outcomes of 2008 Graduates of Ontario University Undergraduate Programs

21 Why do university grads go to college? Polytechnics Canada estimates that 13% of their students have completed a bachelor’s degree prior to enrolling Many colleges are targeting university graduates for their postgraduate certificate programs: – Human Resources Management Program – International Business Management – Marketing Management - Financial Services – Environmental Control – Computer Animation – Financial Planning Program (Postgraduate) FPSC has received ISO 17024 accreditation by the Standards Council of Canada C ERTIFIED F INANCIAL P LANNER ® certification

22 22 Thank you!

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