labour Market Outlook predicts bright future

Post-Secondary Education and Future Skills

B.C.’s latest Labour Market Outlook forecasts more than one million job openings in the next decade, showing job and career opportunities that people of all ages can use to map out their education, skills training and career paths. “Despite the global economic challenges we’re facing, there are significant job opportunities for people over the next decade as we keep building an economy that is inclusive, sustainable and doesn’t leave any British Columbians behind,” said Selina Robinson, Minister of Post-Secondary Education and Future Skills. “Our government is taking action with our Future Ready plan to break down barriers to ensure people have the skills and supports they need for these good-paying careers and employers can access the talent they need to grow.”

The Labour Market Outlook is a 10-year forecast that helps governments, organizations, post-secondary institutions and businesses direct resources to support the future workforce. It gives British Columbians up-to-date information so they can make informed decisions about their future career paths.

“The StrongerBC Economic Plan is ensuring our province is well positioned to fill these openings so we can help businesses grow as we prepare British Columbians for the jobs of tomorrow,” said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. “Our government will always be there to support people and businesses by making investments that develop a skilled workforce that allows people to build a good life in the communities they want to live in.”

British Columbians can expect a wide choice of well-paying, family-supporting job opportunities and possible career paths over the next 10 years. Employment in B.C. is expected to reach 3.1 million by 2032, up from the 2.7 million jobs in 2022. Employment will grow an average of 1.3% per year for the forecast period. Key growth areas will be in the technology and health care sectors.

“We’ve been through a lot together, but this outlook shows us that B.C.’s future is full of opportunity,” said Andrew Mercier, Minister of State for Workforce Development. “There is no shortage of good-paying careers available, especially in the trades. With 83,000 job openings in the next decade, there has never been a better time to get into the skilled trades and we’re working to expand access to the training people need.”

More than one million job openings (1,017,000) are expected between 2022 and

2032. Of these, 37% are due to a growing economy while 63% of the openings will be the result of retiring workers.

Since 2017, the Province has steadily expanded access to post-secondary training in several high-opportunity occupations, including the addition of:

602 new nursing seats, building on approximately 2,000 seats in nursing programs at public post-secondary institutions;

1,577 new early childhood educator seats (ECE), adding to approximately 1,800 seats in ECE programs at public post-secondary institutions;

2,900 tech-related spaces, set to produce approximately 1,000 additional tech graduates each year by 2023; and

27,000 apprenticeship and foundation train-

Source:. ottawacitizen.com ing seats this year at public and non-public institutions. With a newly redesigned WorkBC.ca, British Columbians can more easily navigate the wealth of information available, providing career, labour market tools, resources and information about highopportunity occupations. The improved site connects WorkBC’s training and education opportunities in an easy-to-navigate format.

The Province is going to continue to expand investments to support access to post-secondary education, skills training and career resources as part of StrongerBC’s Future Ready plan. Future Ready is making education and training more accessible, affordable and relevant to help businesses grow and prepare British Columbians for the jobs of tomorrow.Source:. news.gov.bc.ca

Bank of Canada releases details on interest rate decision for the first time

The Bank of Canada released a summary of its Governing Council meetings on Wednesday, providing the public and financial institutions with more insight into the central bank’s decision to raise its key interest rate on Jan. 25. The Governing Council, made up of six members including Bank of Canada Governor Tiff Macklem and his deputies, met five times starting on Jan. 18, before their decision on Jan. 25 to raise the overnight rate by a quarter of a per cent to 4.5 per cent. Discussions at these meetings did look at the possibility of pausing the rate at 4.25 per cent. “The case for leaving the policy rate at 4.25 per cent was that developments with respect to both the economy and inflation were beginning to move in the right direction and that policy had been forceful and just needed more time to do its work,” reads the summary released on Wednesday.

Inflation ‘turning the corner’ after multiple rate increases: BoC governor Canadian dollar’s outlook for 2023 uncertain as interest rate hikes wane: experts Bank of Canada to publish summary of interest-rate deliberations for the first time Inflation in Canada: What was discussed at ministers’ meeting

Canadian economy grew slightly in November, expected to slow further

Read the Bank of Canada decision summary

Ultimately, the council’s consensus to raise the rate was due to a tight labour market and concern over stronger-than-expected economic growth in the third and fourth quarters of 2022. Despite this, there was also consensus to indicate a pause in the bank’s hikes to measure the full effect of its forceful tightening. Members of the council viewed the tight labour market as an indication the economy remains in excess demand, and project that rebalancing the labour market may take longer than usual as businesses continue to face labour shortages.

Source: ctvnews.ca

THE suicide bombing at the sprawling Malik Saad Shaheed Police Lines in Peshawar was among the deadliest to hit this city. Headquarters to capital city police and half a dozen other units including the frontier reserve police, the special security unit of the China-Pakistan Economic Corridor, the counter terrorism department, the elite force, telecommunication, rapid response force and special combat unit, it is no ordinary facility. With a single entry and exit point, where guards ask all visitors for identification and search their vehicles, it is a mystery how a suicide bomber managed to sneak in, and that too with explosives. Investigators acknowledge it is not an easy case to solve. With more than 2,000 staff working for the many units, and two to three hundred visitors daily, profiling each individual alongside reviewing hours of CCTV footage from the lone camera outside the mosque’s front gate and the compound, will be a time-consuming and painstaking task. Equally difficult is collecting forensic evidence from underneath the debris of the collapsed roof that caused the most damage and casualties.

Here are some of the questions investigators are trying to answer.

Who was the bomber?

A chapter of the banned Tehreek-i-Taliban Pakistan (TTP) from Mohmand, which accepted responsibility for the attack, described the bomber as 25-year-old Huzaifa — probably an organisational name given to an individual, like Ehsanullah Ehsan.

Police have so far recovered two heads from under the rubble, so mutilated that they could not be run through the Nadra database for positive identification. Efforts are now on to reconstruct the faces and produce identikits...Source: dawn.com

OTTAWA - Inflation has eroded purchasing power for many Canadians, but the experience with rapidly rising prices has been far from uniform. While the inflation rate shows how quickly prices are rising, other factors like income and consumption patterns can make it harder or easier for people to cope.

Here’s a look at how high inflation is right now, who’s feeling the pinch, and when Canadians can expect inflation to come down.

HOW HIGH IS INFLATION?

After reaching 8.1 per cent in the summer, Canada’s annual inflation rate has slowed noticeably in recent months. In December, the annual inflation rate was 6.3 per cent. Although that’s still much higher than the Bank of Canada’s two per cent target, recent monthly trends suggest inflation is heading closer to the target. But even as inflation slows, food prices in particular have been a pain point for many Canadians. In December, grocery prices were 11 per cent higher than they were a year ago.

HAVE WAGES KEPT UP WITH THE

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COST OF LIVING?

Wages are rising but have not kept up with the rate of inflation. In December, average hourly wages were up 5.1 per cent compared with a year ago. Brendon Bernard, a senior economist with hiring website Indeed, says Canadians on average have seen their real wages (amount earned after factoring in inflation) fall by about one per cent during that time period. But some have seen their wages go up more than others, making it easier for those who have received a raise to cope with the rising cost of living. Workers can’t always negotiate their pay to reflect the rise in the cost of living. Unionized workers, for example, negotiate contracts on fixed schedules.

“It will take potentially quite a bit of time for the current spike in inflation to be compensated for with increased wages for individuals,” Tombe said.

WHO’S BEEN HIT THE HARDEST?

Though most Canadians have probably experienced sticker shock at the grocery store or elsewhere, not everyone is equally strained.. Source: ctvnews.ca