Finance

Economic and Project Analysis

Occupation Projections — Definitions

Updated: Summer 2019

Main—Download | Definitions | Methodology | Occupational Classification

Job openings: the number of positions expected to become available due to expansion/contraction and attrition. See example below:

Example: Technical occupations in life sciences (NOC 222)

There are 54 openings projected in 2021 for technical occupations in life sciences – 27 are due to an increase in the number of positions and a further 27 are due to attrition (replacement of workers leaving permanently because of death or retirement). See calculation below:

The number of positions in technical occupations in life sciences is expected to increase by 27 in 2021 (i.e. demand for workers in 2021 minus 2020: 1,401 –1,374 = 27). This is an expansion of 27.

Furthermore, in 2021 an estimated 27 workers are expected to permanently leave due to either death or retirement (i.e. attrition or replacement).

Therefore, expansion (27) + attrition (27) = 54 job openings.

Ratings: numbers from 1 to 4 that gauge the likelihood of labour supply meeting labour demand for a specific occupational group. For more information on the ratings see Methodology.

Demand for workers: the number of workers required to meet the forecasted employment levels over the period. Changes in these levels reflect economic expansion or contraction.

Attrition: workers expected to permanently leave the labour market due to deaths and retirements. This is often referred to as replacement demand.


Questions and requests related to the projections should be addressed to the  Manager of Modelling and Technical Analysis.


 
Economic and Project Analysis Division, Department of Finance - (709) 729-3255 - infoera@gov.nl.ca

 
This page and all contents are copyright, Government of Newfoundland and Labrador, all rights reserved.