Senior Economist

The employment outlook will be Limited for economists and economic policy researchers and analysts (NOC 41401) in Ontario for the 2025-2027 period.

The following factors contributed to this outlook:

• Employment growth will lead to a few new positions.
• A moderate number of 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?

• Need for research and data-based evidence to support decision making, and to monitor business conditions
• However, general job cuts in the financial services, and moderation in hiring in the public sector are expected to affect job prospects

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 also be beneficial.

Here are some key facts about economists and economic policy researchers and analysts in Ontario:

• Approximately 11,850 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%
• 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