Labour Market Analysis and Forecasting

Prism produces industry and occupation specific labour market forecasts and outlooks at the regional, provincial and federal levels. Each industry has its own trajectory, and Prism’s research identifies future directions and creates labour market forecasts which reflect the strengths and challenges facing a given industry. Prism has extensive experience creating labour market information for the construction industry, resource sectors, manufacturing sectors, engineering occupations, the technology sector and skilled trades.

Furthermore, Prism has drawn on its extensive experience in domestic labour market analysis and in-depth understanding of the current labour market needs in various sectors and territories in Canada to develop a comprehensive economic model of the supply and demand of apprenticeships and is able to provide clients with reliable forecasts.

Meat and Seafood Processing LMI

Food Processing Skills Canada

Prism conducted a comprehensive labour market analysis of Canada’s meat and seafood processing sectors on behalf of Food Processing Skills Canada. The study’s objectives were to

• Define core occupations relevant to each sector

• Determine current and future hiring requirements for employers in each sector

• Determine current and future labour supply

• Develop an approach to evaluate labour market conditions as a means of identifying labour market challenges

• Conduct a comprehensive employer survey for each sector

Prism prepared a national labour market report and a set of profiles for regions with significant processing activity for each sector. Prism also prepared a report summarizing results of the employer survey for each sector.

By creating detailed supply and demand models and occupational profiles based on processing facility type, Prism developed a labour market analysis system that could be applied to any region and generate timely and relevant forecasts. The outcomes of Prism’s analysis were used as evidence to impact policy decisions regarding temporary foreign workers.

BuildForce Canada

BuildForce Canada

Prism Economics leads the supply-side forecasting, market assessment and report writing for BuildForce Canada (formerly known as the Construction Sector Council (CSC).  The model provides 10-year projections of the supply and demand for 34 construction occupations across five regions in Ontario.  The projections are validated on a continuing basis by a network of regional committees of industry stakeholders. A key feature of the BuildForce model is that it translates supply and demand forecasts into estimates of labour market risk that human resource planners can understand.  The five-level risk scale used in the BuildForce model has been incorporated in a number of other industry-based forecasting models.

Market and Outlook for Regulated Professions in Ontario

Higher Education Quality Council of Ontario

Professional degree holders, whose credentials prepare them for a specific occupation, might assume they’ll move directly into a job post-graduation. But a new study from the Higher Education Quality Council of Ontario finds that attempts to manage these professions have resulted in swings between under-supply of new entrants and over-supply of graduates.

This report, prepared by Prism Economics, studies enrollment, graduation trends and labour market outcomes for graduates of professional programs in six regulated professions. It investigates the extent and nature of labour market imbalances that can result in protracted periods of unemployment or under-employment for recent graduates.

The full report can be found here.