Job prospects Economist in Ontario

Explore current and future job prospects for people working as an "economist" in Ontario or across Canada.

Job opportunities in Ontario

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be moderate for Economists and economic policy researchers and analysts (NOC 41401) in Ontario for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to a moderate number of new positions.
• Not many positions will become available due to retirements.
• There are a moderate number of unemployed workers with recent experience in this occupation.

What Types of Employers Are Out There?

• Finance and insurance companies such as banks
• Public administration, mainly the federal government

What are the Main Trends Affecting Employment?

• Government-led initiatives to expand and modernize programs and services to support economic growth and labour market planning, may create work in this field
• Focus on risk management and global markets in the banking sector
• Need for research and data-based evidence to support decision making, recommendations and monitor business conditions

What Skills Do I Need to Succeed?

• Knowledge of economic modelling, forecasting, and statistical software is an asset
• Proficiency in computer programming languages such as Python may be beneficial.

Here are some key facts about Economists and economic policy researchers and analysts in Ontario:

• Approximately 12,500 people work in this occupation.
• Economists and economic policy researchers and analysts mainly work in the following sectors:
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 39%
  • Federal government public administration (NAICS 911): 23%
  • Other professional, scientific and technical services (NAICS 5414, 5416-5419): 6%
  • Provincial and territorial public administration (NAICS 912): 6%
  • Insurance Carriers and related activities (NAICS 524, 526): 5%
• 83% of economists and economic policy researchers and analysts work all year, while 17% work only part of the year, compared to 63% and 37% respectively among all occupations. Those who worked only part of the year did so for an average of 48 weeks compared to 43 weeks for all occupations.
• 5% of economists and economic policy researchers and analysts are self-employed compared to an average of 15% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 56% compared to 52% for all occupations
  • Women: 44% compared to 48% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: less than 5% compared to 9% for all occupations
  • high school diploma or equivalent: less than 5% compared to 25% for all occupations
  • apprenticeship or trades certificate or diploma: less than 5% compared to 8% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 8% compared to 22% for all occupations
  • bachelor's degree: 36% compared to 24% for all occupations
  • university certificate, degree or diploma above bachelor level: 51% compared to 13% for all occupations

Breakdown by region

Explore job prospects in Ontario by economic region.

Source Labour Market Information | Prospects Methodology

Labour market conditions over the next 10 years

Explore current and future job prospects for people working as an "economist" Economists and economic policy researchers and analysts (NOC 41401) or across Canada.

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