Projected occupational
employment growth
Since the 2009 economic recession, both BC
and Alberta have seen signs of improvement
in their economies and labour markets.
Employment in British Columbia grew by a
modest 0.8% in 2011, reaching 2,274,000
workers and surpassing the pre-recession
level.5 Employment grew by another 1.7% in
2012, and then contracted by 0.2% in 2013. In
Alberta, the total number of employed workers
in 2011 was estimated at 2,094,000, surpassing
its pre-recession level of 2,053,700 (2008).6
Alberta continued to lead the country in
employment growth in 2012 and 2013, with
growth rates of 2.7% and 2.9%, respectively.
In 2011, the BC government projected that
1.03 million job openings would occur between 2010 to 2020 across all industries. Given
the province’s aging workforce, it is expected
that nearly two-thirds of these projected job
openings will occur because employers need
to replace staff who have either retired or
passed away. The other third is expected to
stem from expansion demand and increased
economic activity. Between 2010 and 2020,
the labour market is expected to grow at an
average annual rate of 1.4%.7
The Alberta government, meanwhile, is projecting that a total of 366,000 new jobs will be
created over the next 10 years due to increased
economic activity, and it estimates that the
total number of job openings (including new
jobs and jobs to replace workers who are retiring or otherwise leaving the workforce)
will surpass 1 million between 2013 and 2023.
Overall, the labour market is expected to grow
at an average 1.6% per year between 2013 and
2023.8
Demand for CPAs
Between 2010 and 2020, the demand for
CPAs in BC is expected to grow at the same
rate as the overall workforce: 1.4% per year.
Using this estimated growth rate, there will
be 31,840 CPAs employed in BC by 2023,
with the addition of 3,200 new positions.
During that same period, an additional 8,390
positions will need to be filled as baby boomers retire. As a result, it is forecasted that
there will be an average of 1,290 job openings
per year for CPAs in BC between 2014 and
2023.
Forecast: CPAs in BC will see an average of 1,290
job openings per year between 2014 and 2023.
By comparison, a forecasted 25,340 CPAs will be employed in Alberta by 2023. This means that
there will be 2,840 new openings for CPAs in Alberta between 2013 and 2023, and with the expected retirement of many current members, there will be another 7,570 job openings during
that same time period. Therefore, it is forecasted that there will be 10,400 job openings for CPAs
in Alberta between 2013 and 2023, signifying an average increase of 1,040 new positions per year.
Expanding the roles of CPAs
In preparing the report, RKA found that there’s an increasing demand for C Á