BioAlberta commissions the first Labour Market Information study specific to the Alberta life-sciences economy and releases the report to inform all stakeholders
EDMONTON, Alberta--(BUSINESS WIRE)--BioAlberta is pleased to announce the public release of the BioAlberta Labour Market Information (LMI) Report. The study on which the report is based is the first of its kind specific to the Alberta life sciences industry. It was undertaken because access to standardized employment numbers is critical to the continued growth of the life science sector in Alberta, to design programs to support small- to medium-sized enterprises, support faster commercialization of technologies, and to complete effective tracking of employment growth and job creation.
To complete the provincial study, BioAlberta partnered with BioTalent Canada, author of the national LMI report. This alignment allowed for a deep dive on Alberta’s bioeconomy that is comparable with the national LMI completed by BioTalent Canada, further allowing comparison and contrast as stakeholders assess the labour market in other jurisdictions as well as showcasing what makes Alberta unique.
Boasting approximately 1,900 organizations engaged in life sciences related activity, and employment of approximately 23,300 Albertans, the life sciences economy is a key factor in the broader provincial economic picture.
The BioAlberta LMI report provides a detailed profile of the Alberta life sciences industry focussed on the bioeconomy. This includes the companies, hospital research organizations and university research organizations that affect the knowledge, research, innovation, and growth of the industry. For this reason, it should be noted that pure health care services such as physician’s offices are not included in the study. The BioAlberta LMI report provides the employment outlook, hiring requirements, and labour market outlook for the life sciences industry and dives deep into the details on each of the industry subsectors: bio-health, bio-industrial, agri-biotech, and bio-energy.
Important details from the BioAlberta LMI:
- The largest employment contributors in the Alberta life sciences industry are testing laboratories, hospitals, manufacturing, and veterinary services, with approximately half of the life sciences industry employment associated with bio-health subsector.
- The bio-health and agri-bio subsectors will see peak employment by 2030, with research and development job functions in high demand in both sectors.
- The life sciences industry depends on the higher education sector for its skilled labour. Domestic enrollment in higher education is not projected to meet the demand for skilled labour, and it is expected that immigration of skilled workers will be needed to help meet demand.
Even with a projected economic slowdown in 2025, the bio-economy in Alberta is expected to continue to show modest growth through the end of the decade. As we look ahead to the end of the decade, the life sciences industry is estimated to add almost 7,000 jobs for skilled workers. The BioAlberta LMI Report details which subsectors will be most affected as the industry addresses a talent shortage – and provides stakeholders information from which solutions to this challenge can be inferred.
To view the Alberta LMI Report, click here
“The BioAlberta LMI study creates the first definitive report on the life sciences workforce in Alberta. It aligns with Biotalent Canada’s national LMI report to compare with other jurisdictions and provides baseline data to track the labour market so governments and the private sector can respond to meet the demand as both the industry and the workforce grow.” – Robb Stoddard, President & CEO, BioAlberta
The Province of Alberta is working in partnership with the Government of Canada to provide employment support programs and services.
About BioAlberta
BioAlberta is a member-driven and funded not for profit industry association that represents and promotes the province's vibrant and diverse life sciences industry. Through our many partnerships and collaborations, we are dedicated to promoting Alberta's life science sectors, locally, nationally, and internationally. BioAlberta enables success for its members by providing a wide range of networking and educational events, and by effectively delivering policy options to governments. BioAlberta activities are focused in key strategic areas: advocacy; promotion, marketing, and networking; industry development.
Please visit to learn more: www.bioalberta.com
Contacts
BioAlberta: Robb Stoddard, President and CEO
Telephone: 780-425-3815
Email: robb@bioalberta.com