Source: The Conference Board of Canada
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State of the Profession
Economy & Labour Market
Future Demand and Supply of CPAs Across Manitoba
METHODOLOGY
- The demand for CPAs hinges on the economic outlook for the province and its regions.
- Supply is driven by a number of factors such as the current age profile of CPAs, migration patterns, average retirement ages and new people entering the profession.
Consumer Spending to Slow
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Business Investment
Five Key Trends Driving Canada's &
Manitoba's Economy
Government Spending
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Trade Sector
Labour Market
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Now that Bipole III Transmission Line and the Manitoban portion of the Enbridge Line 3 pipeline is complete, investment is expected to fall by 4.7 percent in 2019. Also, it is projected to decline an additional 9.2 percent in 2020 as capital spending on a number of projects winds down.
Job growth is very strong. However, this is unlikely to be sustained as labour markets are tight and the numbers don't show an increase in productivity growth.
Better household income growth and robust job gains will increase their spending 1.7 percent this year and 2.0 percent in 2020.
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Manitoba CPA Labour Market
Modest economic growth to limit demand for CPAs in the short term, however an increase in retirements will drive demand for CPAs in the future.
Overall, this is the weakest pace of growth since 2009 recession.
2009
Demand Sensitivities
Retirements Drive Demand for New CPAs
Takeaways for Manitoba CPA Market
- Weak economic growth will limit demand for CPAs in the short term. Demand will then accelerate, the result of faster growth and rising retirements.
- Our base case forecast shows that the number of CPAs demanded by Manitoba employers will be higher than the number of available CPAs by about 175 in 2032.
- The South Central and North Central region will be the largest source of excess CPA demand; while we expect the Parklands and North region to experience excess supply in the long-run.
- The Conference Board of Canada
- Statistics Canada
Sources
