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funk: we\'re not witnessing a remake of the 1980s oil crisis

by:QY Precision      2019-09-03
If you\'re big enough to remember a 1980 drop in oil prices, you may be worried that Canada\'s oil and gas industry may again move towards high unemployment and a sharp recession, says Bob FunkIf.
So what is the real state of oil and gas employment, especially in resource-dependent provinces like the CEO of Columbus, UK, the largest chartered personnel agency in Alberta, SA and North America --
A company with a history of oil fields in Canada and the United StatesS.
It dates back to the 1980 s.
I can tell you that this is not a remake of that period.
Employment opportunities remain.
In fact, the shortage of workers is still an overriding problem in some areas.
Despite unemployment in the energy sector, the overall job market remains relatively strong.
In many cases, our bigger problem is still the lack of skilled workers needed for some jobs.
There is no doubt that the rapid decline in oil prices has affected the economy and unemployment.
People are fired and face the challenge of job hunting and uncertainty.
Property prices and discretionary spending could also be hit.
But in the long run, it is important to put the decline in oil production and the resulting shift in jobs first.
Statistics Canada\'s latest data on Alberta is clear: although there was no growth in the first quarter, the number of jobs in the province increased by 1. 9 per centxa0(orxa044,000 jobs)on a year-over-year basis.
After a modest increase in employment in first quarter of 2015, employment in Alberta actually increased by 13,000 in April.
Communities that broadly support the energy industry have been hit harder by layoffs, but the economy remains strong for skilled workers.
For those who are replaced by the energy industry, the challenge is that energy companies have been paying more than market wages.
This makes it difficult to find a similar position at the same salary level.
In areas hit hard
Like Fort McMurray.
Displaced energy workers may end up working in general or
Related areas before market changes.
For example, the manufacturing and engineering industries in Alberta are still strong, with wages ranging from $15 to $40 per hour, but finding workers with the right skills is sometimes a challenge.
For example, in Edmonton, there is still a high demand for CNC machine operators, mechanics, welders, engineers, material handling personnel, maintenance technicians, inbound personnel
Workers, electricians and construction workers.
The demand for accountants, IT professionals and marketing experts in some markets remains high.
There is no technical work to fill the vacancy.
Even when energy prices are low, this is still a problem in Canada.
This is a sign of greater national problems.
Canada\'s labor force participation rate remains stubbornly stuck in its 60 s and moving in the wrong direction.
The national labor force participation rate was 65 in January. 7 per cent.
The participation rate ten years ago was 67. 3 per cent —
It shows that the national decline is 1.
6 percentage points.
Today, there are fewer and fewer workers, and this trend is not optimistic.
Shrinking labor force is an ominous sign for the long termterm growth.
In Canada and the United States, a large number of unemployed people seem to have just given up looking for a job.
Whether you are an IT professional, an entrepreneur, a warehouse worker, or anything in between, work can add purpose and satisfaction to your life.
It can help shape your future and the future of our children.
Work can bring hope for a better future for all of us.
Getting employees into the workplace is a challenge of our time.
This should be the main focus of federal and provincial public policy makers.
We did not see a 1980 decline in oil.
In fact, we are facing a more stubborn and long-term challenge.
Term question: get technicians into the labor market.
Bob Funk is the CEO and chairman of the board of directors of courier employment professionals.
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