To identify the best cities for accounting jobs in Canada, it’s important to conduct market research. And to help you begin your research, we’ll look at four factors to consider:
- What’s happening in the accounting and finance environment in Canada
2. Provincial or territorial and regional (local) job prospects
3. Labour market rating (Good, Fair, or Limited)
4. Factors that influence the demand for accountants in each province or territory.
Because the finance sector is largely concentrated in Toronto, accountants may gravitate to Toronto. But great accounting jobs are available in many large and small cities in Canada. And, if you work in sectors other than finance such as technology, or health care, you can explore many cities.
Also, it may want to consider if you prefer living in a large bustling city, or a small and more relaxed city. Because small cities can provide a great advantage because the job market may be less competitive.
Now let’s look at four factors that will help you to determine the best cities for accounting jobs in Canada.
1. What’s happening in the accounting environment
It’s helpful to research what’s happening in the accounting environment. For example, it’s important to know:
- Job market projections that identify the number of job seekers and job openings in Canada. You can start your research using Government of Canada information.
- Provinces or territories that have a strong demand for accountants
- Regions and cities within the province have a strong demand
And, when you know this information you can identify cities that provide the best job prospects before you arrive.
2. Provincial and regional job prospects
While accountants are in demand in Canada, you need to know the market conditions. Labour market conditions vary across Canada. However, with an ageing workforce expected to retire within the next decade, Canadian employers will need to fill those positions. And this demographic reality is creating the demand for accountants in cities across Canada.
So, if you have the right skills and designations you’ll likely find great jobs in many cites.
Labour market rating
You can find out what the labour market is like for accounting jobs in Canada by looking at the Government of Canada’s Labour Market Information (LMI) site. Here you’ll find information for jobs based on the National Occupational Classification (NOC 1111).
As well, you can research labour market information for various accounting titles by using either:
- A job title, or
- The four-digit National Occupational Code (NOC)
Here are a few job titles related to NOC 1111:
3. Know how the accounting job market is rated
Using a 3-star rating system, you can determine if the job market is:
⭐⭐⭐ Good: compared to other occupations, the job outlook in the short- to medium-term is better than average in the region.
⭐⭐Fair: the job outlook for the short- to medium-term is comparable to other professions. The demand for labour may be average or greater than average, and the supply of workers is similar to the labour demand.
⭐Limited: the job outlook for the short- to medium-term is below average compared to other professions.
So when you conduct research, you can use the rating system to:
- Identify what provinces have fair or good job prospects for accountants.
2. Learn what regions and cities within the province have a good outlook.
Explore job potential by province to discover the best cities for accounting jobs in Canada
It’s important to look at labour market conditions at the provincial level first. And then you can assess the job outlook at the regional level. Using this approach, you’ll get a clear picture of which cities have the jobs you’re searching for.
For example, you may find the provincial job outlook is fair or Limited. However, you may find regions within the province where the outlook is good. And that means you can find more job opportunities by looking at both the provincial and regional outlook.
So to better understand how to use the Labour Market Information (LMI), we’ll take a closer look at the labour market conditions for an Accountant. You can click on the links to find information about the role and labour market needs.
Job outlook for Accountant (NOC: 1111)
Job Description and Summary: Accountant
Opportunities across Canada: Varies (Good, Fair)
Based on this information, the job opportunities for an Accountant vary from Fair to Good across Canada. And, even where the outlook is rated as fair, you need to dig deeper.
Provincial Labour Market Outlook: Ontario (Fair)
While the job outlook for Accountants is Fair in Ontario, there are several regions within Ontario where the outlook is Good.
And when you dig deeper this research can give you an advantage in your job search. So it’s important to consider both the provincial and the regional outlook.
Regional Labour Market Outlook:
There are several regions within Ontario that have a Good job outlook. So you can explore jobs in many Ontario cities such as:
4. Factors that influence the job outlook for accountants
Many factors contribute to the number of accounting jobs available in Canadian cities such as the:
- Projected employment growth for the city or region
- Number of jobs that are available due to changing demographics (for example Canada’s ageing population means accountants will retire within the next decade).
- Number of people that are available to work
- Supply of available and experienced accountants with relevant designations.
So it’s important to consider all of this information. And with this information, you’ll likely make your job search much easier when you arrive. So start by using the information and links provided here to conduct further research.
- It’s important to know where accounting jobs are in demand to identify the best cities for accounting jobs.
- You can search for information about accounting labour needs by using the National Occupational Classification (NOC: 1111)
3. The Government of Canada provides important labour market information that will help you to understand accounting job market conditions. And, this is a great starting point to find out what provinces have a good, or fair job outlook. You can even check out our Rentals for Newcomers site to learn more about the housing market and average rentals prices. This will help you to measure if housing costs align with labour market conditions such as wages.
With a rapidly ageing population in Canada, job vacancies will likely increase as many in the workforce plan to retire over the next decade. And, with the right skills, designations, and experience you can land your dream job in many cities in Canada.
For more information, tools, resources, and free webinars visit finding a job in Canada. Get the help you need to achieve your career goals in Canad