If you want to future-proof your career, understanding the Canadian economic landscape is important. You’ll want to know the industries and jobs that are growing and evolving. You’ll also want to know the fastest declining jobs in Canada. As one of the top recruitment agencies in Toronto, we’re always analyzing the industry and paying close attention to how things are changing over time.
Whether you are just starting your career or an experienced professional, being in a quickly declining job could put you in a precarious situation down the road. Below, we’ll list some industries and careers you may want to exit to improve your job security. Then I’ll talk about some things you can do if you work in a declining industry.
What Are The Fastest Declining Industries In Canada?
A recent analysis of the IBISWorld database of 480+ CA industries found these are the fastest-declining industries in 2024.
- Cigarette & Tobacco Product Wholesaling in Canada -17.5%
- Coal Mining in Canada -13.3%
- Steel Rolling & Drawing in Canada -11.2%
- Canned Fruit & Vegetable Processing in Canada -8.3%
- DVD, Game & Video Rental in Canada -7.1%
- Radio Broadcasting in Canada -6.3%
- Iron & Steel Manufacturing in Canada -4.7%
- Paper Mills in Canada -4.4%
- Office Furniture Manufacturing in Canada -4.1%
- Database & Directory Publishing in Canada -3.7%
As a result of the industry decline, you can assume jobs in these industries are also on the decline. Job-related to or in support of these industries could be directly or indirectly affect in the future.
What Are The Fastest Declining Jobs?
The Canadian and US economies share a lot of similarities and they tend to mirror each other to some degree. Often what happens in the US also occurs in Canada. Based on recent data from the US Bureau of Labor Statistics, here are some of the projected fastest-declining jobs from 2023 to 2033:
- Typists and word processors (-38%)
- Telephone operators (-26.4%)
- Switchboard operators (-25.2%)
- Data entry (-25%)
- Telemarketers (-21%)
- Drilling (-19.2%)
- Metal fabricators (-15.3%)
- Payroll clerks (-15.1%)
- Tellers (-14.7%)
See the complete list for all declining occupations.
What Should I Do If I Work In A Declining Industry Or Job?
Seeing the job you plan to pursue or are currently working in on the above lists can be alarming. It could mean the threat of a job loss in the future. But there are things you can do to create a more secure career going forward:
- Alternative career options: Think about other career options. What skills and experience do you have that could apply to other jobs or industries?
- Reskilling: Consider adding new skills. What skills could give you more security in your current industry? What skills could you add to make a move to an alternative career?
- Further education: Is now the time to go back to school? Are there certain degrees, diplomas, or certifications that could help you be more employable?
- Connect with a recruiter: Reach out to a recruitment professional to get a sense of the career options available to you now and the things you can do to make a career move a few years from now.
A Final Word On The Changing Job Market In Canada
Change is the one constant in the Canadian job market. As some industries and jobs decline, new opportunities will also emerge. Take steps today to ensure you are primed for career success now and as things evolve in the coming years.
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