Job prospects Regulatory Compliance Specialist in the Wood Buffalo–Cold Lake Region

Over the past few years (2021-2023), the labour market was balanced for Professional occupations in business management consulting in the Wood Buffalo–Cold Lake Region. The number of job openings was about the same as the number of workers available in this occupation.

Source Labour Market Information | Recent Trends Assessment Methodology

The employment outlook will be good for Professional occupations in business management consulting (NOC 11201) in the Wood Buffalo - Cold Lake region for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to several new positions.
• Several positions will become available due to retirements.
• There are a moderate number of unemployed workers with recent experience in this occupation.

The Conference Board of Canada is forecasting Alberta’s real GDP will expand by 2.6% in 2023 before slowing to 1.9% in 2024. Similarly, they are projecting the labour market to cool in late 2023 and into 2024. Higher for longer inflation may also have some firms rethinking expansion resulting in muted employment growth for this occupation. 

An aging workforce transitioning to retirement will create vacancies for job seekers.

Here are some key facts about Professional occupations in business management consulting in the Wood Buffalo - Cold Lake region:

• Approximately 110 people worked in this occupation in May 2021.
• Professional occupations in business management consulting mainly work in the following sectors:
  • Oil and gas extraction (NAICS 211, 213): 52%
  • Professional, scientific and technical services (NAICS 54): 23%
  • Construction (NAICS 23): 15%
  • Local, municipal, regional, aboriginal and other public administration (NAICS 913-919): 7%

Source Labour Market Information | Prospects Methodology