New Brunswick will have a labour force participation rate equal
to or higher than the national rate by 2028.
Currently, New Brunswick’s labour force participation rate is below the national average.
The participation rate refers to the active portion of an economy’s labour force. In other words, the term applies to the portion of the working-age population that is working or is
actively seeking work. Because it refers only to those of working age, an economy's labour force participation rate is affected by the age demographics of its population. Due primarily to an aging population and a decreasing youth population, New Brunswick’s participation rate has been stagnating, decreasing, and sometimes increasing, for the wrong reasons.
Increasing labour force participation (meaning an increase in permanent workers in New Brunswick's labour market) could led to an increase in the overall employment rates for the province.
If the differences between New Brunswick and Canadian demographics continue, it is unlikely that New Brunswick will be able to achieve a labour force participation rate as high as, or equal to, the Canadian rate.
New Brunswick needs to increase the number of working-age individuals, especially those aged 15-24, or implement strategies to keep youth in the province. New Brunswick could aim to increase the labour force participate rates by recruiting and attracting workers to fill specific job shortages.