KnowHowKM: Halifax Chamber of Commerce releases "Report on Population Crisis"

Posted Mon, 10/05/2009 - 10:17

The "Report on Population Crisis"  outlines the looming population and labour shortage crisis facing Nova Scotia. The report is the first phase of the Chamber's long term effort to address the population and labour market challenge with a program that is called the "People Strategy Project".

Highlights:

  • "Currently, %36 of Nova Scotia's population is over the age of 50." - Statistics Canada.
  • "By 2021, %45 of Nova Scotia's population be over 50 years of age." - Statistics Canada
  • There won’t be enough appropriately skilled young people entering the workforce to ‘sustain economic growth’ at the level previous generations have established.
  • With the baby boomers accounting for roughly 36% of the population,a greater portion of the population
    is aging and moving toward retirement, which puts a strain on the next generation of workers who will be expected to help support the baby boomers.
  • 1 in 7 individuals in the labour force are currently 55 years of age or older.
  • The required skills that technology has brought on were enough to create a gap between what skills are needed by business and what training is provided by the education system.
  • At a time when business will need more in the way of education and training for their workforce the public sector will be least able to provide it. Consequently, it will fall to the private sector to provide their own education and training programs to keep their workforce up-to-date and productive and make their businesses competitive.
  • "Employers face a workforce with fewer young people aged 20 to 39 than in the past. Employers will need to train and retrain workers already in the labour force" - The Economic Benefits of Improving Literacy Skills in the workforce, Conference Board of Canada, 2007.

 

The "Report on Population Crisis" (PDF)

Halifax Chamber of Commerce Website: "Report on Population Crisis"

Halifax Chamber of Commerce Website

 

 

 

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