Professional occupations in business management consulting in Wood Buffalo - Cold Lake

The employment outlook will be Limited for professional occupations in business management consulting (NOC 11201) in the Wood Buffalo - Cold Lake region for the 2025-2027 period.

The following factors contributed to this outlook:

• Employment decline will lead to the loss of some positions.
• Several positions will become available due to retirements.
• There are a moderate number of unemployed workers with recent experience in this occupation.

• Demand for this occupation is driven by government spending and economic conditions.
• Many opportunities for this occupation are project and contract based.
• Economic uncertainty amid ongoing trade disputes may also have some firms rethinking expansion resulting in muted employment growth for this occupation. 
• As more advanced technologies, including artificial intelligence, machine learning, and enhanced cybersecurity continue to be incorporated into financial analysis systems, employers may require prospective employees to have expanded technical skill sets in these areas. Consultants will support implementation and adoption of new technologies and help transition clients to new ways of working and operating their business. 

Here are some key facts about professional occupations in business management consulting in the Wood Buffalo - Cold Lake region:

• Approximately 110 people worked in this occupation in May 2021.
• Professional occupations in business management consulting mainly work in the following sectors:
  • Oil and gas extraction (NAICS 211, 213): 46%
  • Professional, scientific and technical services (NAICS 54): 28%
  • Construction (NAICS 23): 15%
  • Local, municipal, regional, aboriginal and other public administration (NAICS 913-919): 9%