CANADAS FUTURESOME OBSERVATIONS FROM THE ADVISORY COUNCIL ON ECONOMIC GROWTH / DOMINIC BARTON

FIVE MAJOR CHANGES COMING…

Significant demographic shifts – 4:1 to 2:1 and more seniors than students in school in Canada

Significant shifts in economic geography Massive growth of middle class in Asia, Africa, India – 2.2 billion new middle class by 2030 Massive growth of economic engine cities – 424 cities will drive more than 60% of global GDP and

330 of these are in Asia 50% of the world’s $1 billion companies will be in emerging markets by 2025

Significant innovations in technology which will disrupt the nature of work – especially 3D Print based manufacturing, artificial intelligence and robotics

The 3 Planet / 9 Billion Challenge – in 2007 it took 1.5 years to replenish resource use by industry and communities; by 2030 it will take 3 years. 9 billion people by 2050.

Reinvention of work – 4 out of 10 jobs will disappear by 2030

CONTEXT

Canada now 13th in World Economic Forum Competitive Index – we used to be 9th in 2000 Canada’s productivity low in comparison with most developed world, especially US ($7,000

per worker per year difference). Canada good at invention, (patents, etc.) but is weak at innovation – creating commercial

and social value from invention. Most of Canadian economy (90% of firms) are small businesses and most large firms are

branch plants. While we have the highest level of education in the OECD (# of PSE qualifications) we also

have growing challenges with literacy and numeracy – 42% of adults have literacy skills below the level needed for the occupation in which they are employed (2015 data).

THE SKILLS GAPS

Gap 1: The Gap Between What Employers Seek and What Job Seekers Have to Offer Gap 2: The Gap Between What Employers Think They Need and What They Really Need to

Spur Competitiveness Gap 3: The Gap Between Employee Expectations and those of Employers Gap 4: The Underutilization of the Skills of Employees Gap 5: The Gap Between Current Skills and Future Skills Needed

PROPOSED ACTIONS

Strengthen the innovation capacity and the innovation eco-systems which support entrepreneurship

Refocus K-12, College, Undergraduate and Masters Programs on relevant skills – FutureSkills Lab recommendation

Focus on key sectors (e.g. agribusiness, cybersecurity, oil/gas/energy, advanced manufacturing, mining technologies and services) and develop strong cluster support for these sectors at a regional level

Position Canada as a global trading hub committed to global trade (contrasting with Fortress America)

Increase and strengthen workforce participation and workforce learning

FUTURE-SKILLS LAB

“We recommend the formation of a FutureSkills Lab—a non-profit, non-political body designed to promote and enable next-generation skills development. The FutureSkills Lab would support and co-fund innovative approaches to skill development; identify and disseminate new sources of information about required sector and industry skills, as well as the broader labour market; help define clear national objectives for skill-building; and promote the exchange of knowledge with government agencies and private sector institutions active in this field. The goal of this new entity would not be to replace existing institutions but to better enable them to perform by bridging information gaps in the marketplace and providing a neutral clearing house for critical insights and best practices. ”

HERE’S WHAT THEY SEE..

Pilot projects aimed at looking at new skills developments and new ways of delivering them – P3’s for skills

Incentives for learning investments by firms and individuals Strengthening skills information – intelligence on what skills are needed where and what

skills are emerging

FUTURE SKILLS PROCESS MAP

THANKS!murgatroydstephen@gmail.com