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Ontario Labour Market Report CIP Program 52.06: Business/Managerial Economics
Most Relevant Academic Program(s) at Brock: Business Economics
EMSI Q3 2016 Data Set
February 2017
Institutional Analysis and Planning
Brock University 1812 Sir Isaac Brock Way
905-688-5550
Emsi Q3 2016 Data Set | www.economicmodeling.com 2
Table of Contents
Section 1: Program Overview
a) How many degrees are completed in Ontario (Labour Supply)? ……….3
b) What types of degrees are completed in Ontario?................................3
c) What other similar programs are offered in Ontario? ……………………....4
d) What other similar programs are offered at Brock University?.............4
Section 2: Target Occupations
a) What top growing target occupations are obtained by Alumni?...........5
b) What are the growth prospects for these occupations (Demand)? .....6
c) How much are these target occupations earning?................................7
d) Where are the hottest places in Ontario in terms of job growth? ……..8
Section 3: Top Three Target Occupation Summaries **Includes Description, Skills & Competencies, Ontario Trends in Field, Location of Job, Industries
a) Financial Auditor and Accountant…..……………………..………………….……….10
b) Customer Services Representative - Financial Institutions………….….…..12
c) Other Financial Officer………………………………………….……………………….…..14
Reference and Notes……………………………………………………………..…………………..16
Emsi Q3 2016 Data Set | www.economicmodeling.com 3
Section 1: Program Overview for Business
Economics (52.06)
11 481
Ontario Institutions Ontario Program Completions (2013)
had Completions in the last 5 years
Region 2009
Completions 2013
Completions % Change
● Ontario 0 481 N/A
● Canada 111 583 425.0%
b) What types of degrees are coming from Ontario? (52.06)
Award Level
Completions
(2013) Percent
● Bachelors degree 428 88.8%
● Masters Degree 54 11.2%
a) How many degrees are completed in Ontario? (52.06)
Emsi Q3 2016 Data Set | www.economicmodeling.com 4
c) What other similar programs are offered in Ontario?
39 58,618
Programs (2013) Completions (2013)
CIP Code Program Completions (2013)
52.02 Business administration, management and
operations 9,299
52.03 Accounting and related services 5,302
45.06 Economics 2,716
45.10 Political science and government 2,188
45.01 Social sciences, general 578
d) What other similar programs are offered at Brock University?
Economics1 - This program is intended for students who are interested in the application of economic
tools to issues in the economy and broader society. The program is less technical than Economics
(Honours). Instead, it places more emphasis on teaching students how to apply analysis to specific
problems and issues. It also emphasizes students' ability to write about economic analyses of policies
and make presentations of their work. The Applied program also prepares students for positions in all
sectors of the economy and it is the recommended program for students considering graduate work in
related fields such as public policy, public administration, regional and urban studies, industrial
relations, journalism, law, or business administration.
Political Sciences2 - This program looks at five key areas. In Canadian Politics, Comparative Politics
and International Relations, you'll examine power relationships and the organization of power within
and among states. The study of Public Policy asks how policies are made and implemented in the
complex machinery of government. Political Theory/ Philosophy asks how power ought to be organized
and to what end.
Social Sciences3 – Brock’ BA in Social Sciences degree is designed to allow you to pursue a more
flexible pattern of study than a single or combined major. The BA in Social Sciences program offers
broad exposure to courses from across all of our Faculties. The majority of credits earned towards this
degree must be offered by departments and centres within the Faculty of Social Sciences.
Emsi Q3 2016 Data Set | www.economicmodeling.com 5
Section 2: Target Occupations
a) Which top growing target occupations are obtained by Alumni?
195,475 7.9% $30.83/hr
Jobs7 (2015) % Change (2016-2024) Median Hourly Wages8
17% above Canada’s average Canada: 6.2% Canada: $29.22/hr
Occupation 2016 Jobs7 Median Hourly
Wages8 Growth (2016 -
2024) Location Quotient4
(2016)
Financial auditors
and accountants 71,128 $34.36/hr 6.35% 1.05
Customer services
representatives -
financial institutions 41,250 $17.50/hr 5.10% 1.14
Other financial
officers 40,536 $32.05/hr 9.08% 1.29
Financial and
investment analysts 36,519 $35.04/hr 13.64% 1.36
Economists and
economic policy
researchers and
analysts
8,819 $42.13/hr 3.32% 1.46
`
Emsi Q3 2016 Data Set | www.economicmodeling.com 6
198,252 213,825 15,573 7.9%
2016 Jobs7 2024 Jobs7 Change (2016-2024) % Change (2016-2024)
Occupation 2016 Jobs7 2024 Jobs7 Change % Change
Financial auditors and
accountants (1111) 71,128 75,643 4,515 6%
Financial and investment
analysts (1112) 36,519 41,501 4,982 14%
Other financial officers
(1114) 40,536 44,216 3,680 9%
Economists and economic
policy researchers and
analysts (4162) 8,819 9,112 293 3%
Customer services
representatives - financial
institutions (6551) 41,250 43,353 2,103 5%
b) What are the growth prospects for these target occupations?
`
Emsi Q3 2016 Data Set | www.economicmodeling.com 7
c) How much are these target occupations earning?
$22.89/hr $30.83/hr $40.43/hr
25th Percentile Wages8 Median Wages8 75th Percentile Wages8
Occupation 25th Percentile Wages8 Median Wages8 75th Percentile Wages8
Financial auditors and
accountants (1111) $24.04 $34.36 $46.15
Financial and investment analysts
(1112) $27.47 $35.04 $46.15
Other financial officers (1114) $23.08 $32.05 $42.79
Economists and economic policy
researchers and analysts (4162) $32.31 $42.13 $51.28
Customer services
representatives - financial
institutions (6551) $14.74 $17.50 $21.00
Emsi Q3 2016 Data Set | www.economicmodeling.com 8
d) Where are the hottest places in Ontario in terms of job growth?
Census
Division
Census
Division
Name
2016
Jobs 2024
Jobs
2016 -
2024
Change
2016 -
2024 %
Change
Expecte
d
Change
2016
Location
Quotient
2024
Location
Quotient
2015
Avg.
Hourly
Wages
3532 Oxford 1,049 1,205 156 15% 65 0.71 0.76 $30.18
3534 Elgin 581 665 84 14% 35 0.76 0.84 $31.67
3501 Stormont,
Dundas and
Glengarry 1,092 1,240 148 14% 68 0.95 1.01 $32.42
3523 Wellington 2,146 2,403 257 12% 132 0.71 0.74 $33.02
3507 Leeds and
Grenville 891 994 103 12% 55 0.88 0.92 $32.78
3530 Waterloo 6,261 6,952 691 11% 386 0.88 0.92 $32.92
3539 Middlesex 6,717 7,369 652 10% 414 1.11 1.15 $30.61
3522 Dufferin 389 426 37 10% 24 0.74 0.76 $30.91
3543 Simcoe 3,321 3,632 311 9% 205 0.72 0.74 $31.92
3520 Toronto 87,313 95,098 7,785 9% 5,384 2.13 2.18 $32.61
3521 Peel 20,043 21,746 1,703 8% 1,236 1.11 1.12 $34.43
3519 York 13,559 14,704 1,145 8% 836 1.01 1.02 $34.95
Emsi Q3 2016 Data Set | www.economicmodeling.com 9
Census
Division
Census
Division
Name
2016
Jobs 2024
Jobs
2016 -
2024
Change
2016 -
2024 %
Change
Expecte
d
Change
2016
Location
Quotient
2024
Location
Quotient
2015
Avg.
Hourly
Wages
3502 Prescott and
Russell 498 539 41 8% 31 0.72 0.72 $32.23
3551 Manitoulin 104 112 8 8% 6 0.72 0.71 $29.71
3536 Chatham-
Kent 802 863 61 8% 49 0.70 0.73 $27.87
3506 Ottawa 19,870 21,294 1,424 7% 1,225 1.39 1.41 $36.64
3541 Bruce 424 453 29 7% 26 0.51 0.51 $24.97
3538 Lambton 955 1,018 63 7% 59 0.67 0.68 $27.31
3518 Durham 4,316 4,599 283 7% 266 0.80 0.80 $35.15
3540 Huron 293 312 19 6% 18 0.48 0.49 $25.14
3509 Lanark 372 396 24 6% 23 0.64 0.64 $34.90
3524 Halton 5,509 5,828 319 6% 339 0.87 0.86 $33.65
3537 Essex 2,770 2,926 156 6% 171 0.64 0.65 $27.38
3528 Haldimand-
Norfolk 671 706 35 5% 42 0.66 0.66 $30.01
3549 Parry Sound 180 189 9 5% 11 0.55 0.54 $28.94
3526 Niagara 3,832 3,971 139 4% 236 0.80 0.80 $29.63
Brock continues to play a significant role
for employment within our Hamilton-
Niagara
Emsi Q3 2016 Data Set | www.economicmodeling.com 10
Section 3: Top Three Job Occupation Summaries
a) Financial Auditor and Accountant Financial auditors examine and analyze the accounting and financial records of individuals and establishments to ensure accuracy and compliance with established accounting standards and procedures. Accountants plan, organize and administer accounting systems for individuals and establishments. Articling students in accounting firms are included in this unit group. Financial auditors and accountants are employed by auditing and accounting firms throughout the
private and public sectors, or they may be self-employed5.
Technology Skills Required 6: Skills & Abilities Required 6:
70,452 6.3% $34.36/hr
Jobs7 (2015) % Change (2016-2024) Median Hourly Wages8
5% above Canada’s average Canada: 5.2% Canada: $31.72/hr
Region 2016 Jobs7 2024 Jobs7 Change % Change
● Ontario 71,128 75,643 4,515 6.3%
● Canada 176,932 186,095 9,163 5.2%
Ontario Trends
Accounting Software: Intuit QuickBook,
Sage 50 Accounting, Sageworks
Proficents
Financial Analysis Software: Brentmark
Estate Planning Quickview, Cartesis
Magnitude iAnalysis, Delphi
Technology, Oracle E-Business Suite
Financial
Coordination: adjusting actions in
relation to others’ actions
Speaking: talking to others to convey
information
Deductive Reasoning: apply rules to
problems to produce sensible answers
Time Management: managing one’s
own time and the time of others
Emsi Q3 2016 Data Set | www.economicmodeling.com 11
Census Metropolitan Aggregate 2024 Jobs7
Toronto 46,701
Ottawa - Gatineau 8,197
London 3,414
Kitchener - Cambridge - Waterloo 3,054
Hamilton 2,516
Who are employing Financial Auditors and Accountants?
Industry
Occupation
Jobs7 in
Industry
(2015)
% of
Occupation
in Industry
(2015)
% of Total
Jobs7 in
Industry
(2015)
Accounting, tax preparation, bookkeeping and payroll services 15,955 22.6% 42.0%
Other federal services 3,957 5.6% 3.2%
Depository credit intermediation 2,674 3.8% 2.0%
Management of companies and enterprises 2,161 3.1% 5.8%
Lessors of real estate 1,787 2.5% 3.5%
Where are the most jobs in Ontario for Financial Auditors and Accountants?
There is an increase
of 4,500+ Financial
Auditing and
Accounting jobs by
2024.
Emsi Q3 2016 Data Set | www.economicmodeling.com 12
b) Customer Services Representative – Financial Institutions
Customer service representatives in this unit group process customers' financial transactions and provide information on related banking products and services. They are employed by banks, trust companies, credit unions and similar financial institutions5.
Technology Skills Required6: Skills & Abilities Required6:
40,969 5.1% $17.50/hr
Jobs7 (2015) % Change (2016-2024) Median Hourly Wages8
13% above Canada’s average Canada: 1.5% Canada: $17.53/hr
Ontario Trends
Region 2016 Jobs7 2024 Jobs7 Change % Change
● Ontario 41,250 43,353 2,103 5.1%
● Canada 94,127 95,525 1,398 1.5%
CRM software: Blackbaud The Raiser’s
Edge, Salesforce Software
ERP Software: Microsoft Dynamic GP,
Oracle PeopleSoft, Oracle Hyperion
Spreadsheet Software: Microsoft Excel
Persuasion: persuading others to change
their mind or behavior
Active Listening: Giving full attention of
what other people are saying
Deductive Reasoning: applying general
rules to specific problems to produce
answers that make sense
Emsi Q3 2016 Data Set | www.economicmodeling.com 13
Where are the most jobs in Ontario for Customer Services Representatives – Financial Institutions?
Census Metropolitan Aggregate 2024 Jobs7
Toronto 26,378
Ottawa - Gatineau 2,864
London 2,036
Hamilton 1,870
Kitchener - Cambridge - Waterloo 1,439
Industry
Occupation
Jobs7 in
Industry
(2015)
% of
Occupation
in Industry
(2015)
% of Total
Jobs7 in
Industry
(2015)
Depository credit intermediation 34,779 84.9% 25.6%
Activities related to credit intermediation 1,326 3.2% 10.7%
Other financial investment activities 1,141 2.8% 2.9%
Non-depository credit intermediation 993 2.4% 6.6%
Securities and commodity contracts intermediation and
brokerage 520 1.3% 2.2%
Who are employing Customer Services Representatives – Financial Institutions?
Emsi Q3 2016 Data Set | www.economicmodeling.com 14
c) Other Financial Officer
This unit group includes professional occupations in finance not elsewhere
classified such as financial planners, financial examiners and inspectors,
financial investigators, financial underwriters, mortgage brokers and trust
officers. They are employed by banks, trust companies, investment firms and
governments, or they may be self-employed5.
Technology Skills Required6: Skills & Abilities Required6:
39,838 9.1% $32.05/hr
Jobs7 (2015) % Change (2016-2024) Median Hourly Wages8
29% above Canada’s average Canada: 7.6% Canada: $30.83/hr
Ontario Trend
Region 2016 Jobs7 2024 Jobs7 Change % Change
● Ontario 24,242 26,088 1,846 7.6%
● Canada 49,823 53,925 4,102 8.2%
Compliance Software: NILS INSource;
ODEN Insurance Services State Rules
& Regulations, Oversight Insights On
Demand, System for Electronic Rate
and Form Filing SERFF
Data base user interface and query
software: Microsoft Access, Structured
query language SQL
Active Listening: Giving full attention of
what other people are saying
Critical Thinking: use logic to identify
alternative solutions
Deductive Reasoning: applying general
rules to specific problems to produce
answers that make sense
Emsi Q3 2016 Data Set | www.economicmodeling.com 15
Where are the most jobs in Ontario for Other Financial Officers?
Who are employing Other Financial Officers?
Industry
Occupation
Jobs7 in
Industry
(2015)
% of
Occupation
in Industry
(2015)
% of Total
Jobs7 in
Industry
(2015)
Management, scientific and technical consulting services 3,629 15.2% 9.3%
Depository credit intermediation 1,372 5.7% 1.0%
Computer systems design and related services 1,197 5.0% 1.4%
Other federal services 1,062 4.4% 0.9%
Advertising, public relations, and related services 1,051 4.4% 3.2%
Census Metropolitan Aggregate 2024 Jobs7
Toronto 15,298
Ottawa - Gatineau 4,744
Hamilton 1,024
Kitchener - Cambridge - Waterloo 756
London 460
Emsi Q3 2016 Data Set | www.economicmodeling.com 16
References and Notes
1 https://brocku.ca/webcal/2016/undergrad/econ.html 2 https://brocku.ca/webcal/2016/undergrad/poli.html 3 https://brocku.ca/webcal/2016/undergrad/sosc.html 4 Location Quotient: a calculation that quantifies the concentration of a particular industry, cluster, or occupation, in a
region as compared to the nation. It can reveal what makes a particular region “unique” in comparison to the national average. Source: http://www.economicmodeling.com/2011/10/14/understanding-location-quotient-2/
5 https://brocku.EmsiCareerCoach.ca 6 https://www.onetonline.org/ 7 Employment numbers do not include people who are self-employed and may be under-represented. 8 Wages do not consider people who are self-employed and may be under-represented.