jobs, skills and income for the 21 st century january 2013
TRANSCRIPT
Jobs, skills and income for the 21st century
January 2013
A changing picture
Responding to demand
Source: Statistics Canada data and AUCC estimates
“We’re number 15.” What?
Canada’s competitive
advantage in university
attainment is eroding…
Source: OECD, Education at a Glance 2012
And by some measures, we rank even lower
* Four-year age cohort with highest enrolment Source: AUCC estimates using OECD database, 2012
Canada was 21st in
university participation
in 2010
Canada
Belgium
Ireland
Luxembourg
Estonia
France
Australia
Chile
United States
Spain
Austria
Denmark
Netherlands
Mexico
Hungary
0% 5% 10% 15% 20% 25%
Source: OECD, Education at a Glance 2012
“But aren’t we #1?”Co
llege
att
ainm
ent r
ates
age
25
to 6
4
Universities deliver more – with less
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
e
2012
e0
5,000
10,000
15,000
20,000
25,000
Co
nst
ant
$ 20
12
Source: AUCC -- operating support per full-time equivalent student
Government
“Net” tuition
Gifts and donations
Canadian university graduation rates better than the U.S.
Demand for university graduates is growing
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Th
ou
sa
nd
s e
mp
loy
ed
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
High-quality jobs: a path to prosperity
Profesional and management occupations
Technical, administrative & health support
Clerical, sales and service occupations
Manufacturing, trades and occupations in primary industry
-800 -600 -400 -200 0 200 400 600 800 1,000 1,200 1,400
High school or less Post-secondary certificate or diploma University degree
Employment changes in 000s, 1990 to 2011
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
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%
University graduates in demand everywhere
Source: Statistics Canada, Labour Force Survey
Alberta: 1000s of new jobs for university graduates between 2000 and 2011
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)
The unemployment myth
Source: Statistics Canada, Labour Force Survey, 2011
The myth of growing student debt
2000 2003 2005 2006 2009 2012
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.
Plan ahead for tomorrow
25 to 34 years
35 to 44 years
45 to 54 years
55 to 64 years
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
High school certificate or equivalent
Trades certificate or diploma
Registered Apprenticeship certificate
Total College or CEGEP
Bachelor's degree
Master's degree
Earned doctorate
Source: Statistics Canada, 2006 Census, full-time, full year work
By end of career, earnings are double
University pays dividendsLevel of education Average annual income
(2005)Accumulated income
advantage over high school graduate
High school certificate or equivalent $ 41,200 Baseline 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
Study what you love
Source: Statistics Canada, 2006 Census of Population
Motivation counts
Source: Statistics Canada, 2006 Census of Population
So, what’s the story with colleges?% of
graduatesEmployment
rate% working
full-timeRelationship between job
and program of study
Unemployment Rate
Applied arts 40% 84% 61% 38% 16%
Business 29% 80% 66% 46% 20%
Technology 19% 81% 72% 50% 19%
Health 13% 87% 61% 49% 13%
College Total Salary in related jobs
$35,500
83% 65% 44% 17%
Bachelor`s graduate6 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
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
• CERTIFIED FINANCIAL PLANNER® certification