In 20 Years Will You Enjoy What You Do?
Industry Insight Dr. Eric Hoskins, Minister of Economic Development, Trade and Employment weighs in on the current state of employment and what we can expect for the future.
Welcome, Next Step readers. As Minister of Economic Development, Trade and Employment, it is my pleasure to introduce the Next Step guide. It’s been developed to highlight emerging sectors that are about to take off and to inform Ontarians about what training and skills they will need for the jobs of the future.
Perhaps the most challenging part of launching any career is deciding what path to take. If you’re young, how do you know what you’ll enjoy doing in 20 years? And at any age, how do you know what sectors will grow and what professional experiences will create new career opportunities for you?
Projecting future labour market needs is difficult. For example, the app development industry barely existed before 2007. This year, according to the Wall Street Journal, revenue in that sector is anticipated to reach $25 billion.
“At any age, how do you know what sectors will grow and what professional experiences will create new career opportunities for you?”
Sectors and growth
Certain sectors are poised to grow. According to projections from the Ministry of Training, Colleges and Universities, over the next decade we are likely to see significant new employment prospects in health care and the life sciences, computers and technology, financial services, energy and mining, and professional occupations.
Innovation and technology
What we do know is that innovation and technology is thriving in Ontario. Happily, these are sectors where our province excels. For example, we account for around half of Canada’s ICT employment (approximately 250,000 jobs). And Ontario is the largest life sciences jurisdiction in Canada, employing 38,000 in the private sector and over 15,000 researchers and research staff at Ontario institutions and hospitals.
Although we can’t anticipate what the next “app development industry” will be, one thing we do know is that career prospects improve with education. During the global recession, even as hiring slowed, people with university and college credentials and expertise found employment.
"I know the impact that entrepreneurs have on our economy. Ontario’s vibrant innovation ecosystem is shaping the careers of the future."
The need for entrepreneurs
Entrepreneurs, like the first app developers, will play a critical role in shaping the evolution of these new sectors in technology, innovation and design. And as Ontario’s Jobs Minister I know the impact that entrepreneurs have on our economy. Ontario’s vibrant innovation ecosystem is shaping the careers of the future. With offices in 57 communities across the province, the Ontario Network of Entrepreneurs helps low and high-tech start-ups plan, launch, and grow so that they can succeed, create jobs, and contribute to our economy.
Whatever path you choose, I hope you find the adventure a rewarding one. My best wishes for your future success.