Employment Opportunities for New Canadians: Statistics Point to Financial Services

Statistics show that the more education Canadians have, the better their chances of employment. This is especially true for newcomers to Canada. In that regard, the tax and financial services industries offer great opportunities for those ready to start their new lives and careers in Canada.

According to Statistics Canada, immigrants who are between the ages of 25 and 54, and have been landed in Canada for five years or less but don’t have a diploma, certificate or degree have a mere 38 percent employment rate. This contrasts with the 73.6 percent employment rate of those with a certificate or diploma, and 72.2 percent for those who have a post-secondary degree.

These are intriguing numbers that indicate not only that education leads to greater employment opportunity, but also that those with certificates or diplomas are actually more employable than those who have university degrees. What this tells us is that employers are more apt to hire new Canadians who have technical skills, like those in STEM fields (science, technology, engineering, and math).

The data also shows us that, in general, those with STEM training are more employable, and have higher earning potential. In fact, average earnings in STEM fields compared to BHASE fields (business, humanities, health, arts, social science, legal, education, trades, services, and natural resources) in 2015 were $75,443 versus $58,488. In the case of immigrants, there is also a better chance at landing permanent residence status in Canada with a combination of job experience and education in STEM. Accounting, bookkeeping, tax preparation, and other financial services fall under this category, and as we reported in 2017, it’s an industry that has 38-percent higher annual earnings than the national average.

New to Canada and trying to choose your career path? These numbers point you towards lucrative employment opportunities in tax and financial services. Knowledge Bureau can help you get the education, skills, and training you require.

Additional educational resources: Introduction to Personal Tax Preparation, Bookkeeping for Small Business

©2018 Knowledge Bureau Inc. All Rights Reserved.

Refer a Friend	Research	Calculators	Course Trials