If you’re graduating this spring or are a young professional seeking career opportunity and growth, you may be wondering just how valuable it’s been to earn that college degree. Was it really worth the time and expense?
The Answer is “Yes!”
This is especially true if your degree is in an area related to specialized fields such as law, medicine, finance or engineering. While any degree shows commitment and the ability to apply critical thinking, skills in these areas are more conducive to employment than more general expertise in humanities or the arts.
Canada’s Employment Picture
According to the Canada Labour Force, the national unemployment rate is 7.0 percent. There has been little change in the past six months and unemployment nationwide has increased by 0.5 percent (or 95,000) since a year ago.
- This rate has been virtually unchanged among Canadians aged 15 through 24. The February 2014 youth unemployment rate was the same as it was a year ago: 13.6 percent. Yes, you read that correctly. Among youth in Canada, the rate of unemployment is nearly twice that of the national average.
- The outlook is comparable for those aged 25 to 54. In February there were 20,000 fewer men in this age group working, which brought unemployment levels to the same point as February 2013. The rate was unchanged among women in this group.
The Good News
While Canada has not seen significant employment growth in recent months, it’s evident that those who earn specialized degrees are more likely to land their ideal job. Moreover, degree holders earn between 30 and 45 percent more than those with high-school diplomas or the equivalent.
- At the same time, competition for available jobs is growing. During the remainder of this year, there is cautious optimism as 13 percent of Canadian employers are expected to add jobs.
While there is still some volatility in the marketplace, now is a good time to complete your degree, finalize your resume and launch your career search with an eye toward the future. Partnering with a career coach may be a viable plan as you ride out the final days of the global recession and take your next strategic step forward.
The recruiting team at Employment Professionals Canada have years of experience in helping professionals find great jobs in Southern Ontario and thrive in their careers. To learn more, contact the expert recruitment team at Employment Professionals Canada today. We look forward to hearing from you!