Collectors – NOC 1435 PR

65

Number of People Who Work in this Industry

$42,178

Median Income of People Working in this Occupation

93%

Chance this Occupation Will Be Impacted by Technology in the Next Decade

100%

Participation Rate
Percentage of the number of people actively working in the occupation as compared to the total number of people in the occupation as of
May 1 to May 7 2016

0%

Unemployment Rate
Percentage of people looking for work as compared to the total number of people in the occupation as of the week of May 1 to May 7, 2016, when the unemployment rate was 7.8% in SDG and 5.3% in PR.

Education

of People Working in this Occupation

53.8% does not have a secondary school diploma

15.4% of the workforce has a college diploma or certificate

15.4% of the workforce has an apprenticeship or trade certificate

15.4% of the workforce has a university degree or diploma

Age of the Workforce

in this Occupation

30.8% of the workforce is age 45 to 54

23.1% of the workforce is age 35 to 44

23.1% of the workforce is age 55 to 64

Sectors that Employ this Occupation

30.8% of collectors work in each of the following sectors: Finance and Insurance and Administrative Support/ Waste Management Sectors

15.4% work in each of the following sectors: Construction; Retail Trade; and Information and Cultural Services

Employment Outlook

The employment outlook in our region for 2017-2019 is fair.

Employment growth will lead to a moderate number of new positions.

Several positions will become available due to retirements.

There are several unemployed workers with recent experience in this occupation.

Projected growth rate in Ontario: Less than or equal to 0%

More Information

What Else Do I Need to Know?

Employment in this occupation has been showing signs of weakening more recently, following years of strong growth. Most collectors are employed in the business support services industry, specifically by debt collection agencies. The in-house debt collection departments of financial institutions are other key employers.

Over the past decade, consumer debt levels have risen in Ontario. Industry reports also suggest a higher likelihood of more loan delinquencies should interest rates increase. While this would result in greater demand for debt collection services, the level of work opportunities for collectors may be tempered due to factors such as technological advancement. Employers now have access to predictive dialing, automated calling systems, and improved debt collection software which can increase worker productivity in the debt collection process. Recent changes to the Collection and Settlement Services Act may also affect job opportunities for these workers.

Collectors have minimal requirements for entry into the occupation, therefore staff turnover is expected to be a significant source of future job openings. Individuals with knowledge of the Canadian Collection and Debt Settlement Services Act, previous industry-specific experience and who are willing to work evenings and weekends are expected to have more favourable job opportunities.

Collection agencies and collectors operating in the province must be registered with the Government of Ontario.

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