Job prospects Business Analyst - Economics in Ontario

Explore current and future job prospects for people working as a "business analyst - economics" 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 a "business analyst - economics" Economists and economic policy researchers and analysts (NOC 41401) or across Canada.

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