Insurance agents and brokers – NOC 6231

185

Number of People Who Work in this Industry

$50,024

Median Income of People Working in this Occupation

92%

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

92.5%

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

5.4%

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

28.6% of the workforce has a secondary school diploma.

28.6% of the workforce has a university diploma or degree.

Age of the Workforce

in this Occupation

22.5% of the workforce is age 25 to 34.

30.0% of the workforce is age 55 to 64.

Sectors that Employ this Occupation

100% of insurance agents and brokers work in the Finance and Insurance sector.

Employment Outlook

The employment outlook in our region for 2017-2019 is good. Employment growth will lead to a moderate number of new positions. Several positions will become available due to retirements. There are a small number of unemployed workers with recent experience in this occupation. Bilingualism may be an asset.

Projected growth rate in Ontario: 2.1%-3%

More Information

What Else Do I Need to Know?

  • The Insurance Carriers and Related Activities sector is comprised largely of small businesses. Businesses with four employees or fewer make up 87.7% of the sector.
  • Employment Outlook for Insurance Agents and Brokers in the Ottawa Economic Region is expected to be fair.** The aging population locally will continue to drive the demand for all types of insurance services. One area of growth for insurance agents and brokers will be providing financial planning services related to retirement and estate planning. However, if new entrants in this profession have difficulty establishing a client base, they subsequently may move into other types of work. Some job openings will become available from the need to replace workers who retire or leave the workforce.
  • Insurance agents and brokers who are up to date with the changing regulatory environment and are proficient in financial information technology will have better job prospects.
  • For more information directly from local employers about this occupation, click on “Finance, Insurance, Real Estate”.