Job Training and Career Counselling in Canada Industry Market Research Report from IBISWorld Has Been Updated

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As businesses improve their bottom line, more companies are likely to hire workers and expand operations. For this reason, industry research firm IBISWorld has updated a report on the Job Training and Career Counselling industry in its growing industry report collection.

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Growth is anticipated to slow as economic growth picks up and unemployment falls

The Job Training and Career Counselling industry is countercyclical. The recession increased demand for industry services over the past five years. The unemployment rate spiked in 2009 and remained elevated throughout the current five-year period. As economic growth slowed and unemployment increased, more unemployed individuals sought the job training and career counselling services offered by industry operators. Additionally, federal and provincial governments provided stimulus funding for workforce development. According to IBISWorld Industry Analyst Dmitry Diment, “over the past five years, total government expenditure and investment grew, resulting in greater funding for industry operators.” As a result, IBISWorld expects industry revenue to grow in the five years to 2014. However, industry growth has begun to slow as the economy recovers in 2014.

Industry operators are primarily government-funded nonprofit organizations. In response to the recession, the 2009 Economic Action Plan (EAP) provided $8.4 billion in unemployment aid through 2011. The EAP included Labour Market Agreements with provincial governments, providing federally funded job training programs to unemployed individuals. Further legislative efforts include youth skill-development programs. Aside from stimulus funding, industry operators also benefit from the Canada Pension Plan's vocational rehabilitation programs. The pension plan funds vocational counselling, financial support training and job training aid to all individuals receiving disability aid. Vocational counselling programs provide steady demand for industry operators.

Industry growth is anticipated to slow over the next five years, as economic growth picks up and unemployment falls. “As businesses improve their bottom line, more companies are likely to hire workers and expand operations,” says Diment. Consequently, the national unemployment rate is projected to fall from 2014 to 2019, which will lower demand for job training and career counselling. Although the passage of the Canada Job Fund in 2014 is expected to preserve funding for workforce development services, the new agreement will likely reduce federal funding over the five-year period. As a result, IBISWorld projects that industry revenue will contract marginally in the five years to 2019.
For more information, visit IBISWorld’s Job Training and Career Counselling in Canada industry report page.

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IBISWorld industry Report Key Topics

The Job Training and Career Counselling industry provides job counselling and training to the unemployed, underemployed and/or disabled. Firms also provide services to people who have a job market disadvantage because of a lack of education, skills or experience. This industry includes work experience centres (sheltered workshops), where mentally or physically handicapped individuals gain work experience in a managed environment. The industry does not include vocational training in trade and technical schools.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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Gavin Smith
IBISWorld Inc.
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