According to a report issued by the Petroleum Human Resources Council of Canada, an aging workforce is a chief contributor to the fact that Canada's oil and gas industry is headed towards severe and chronic labour shortages. Specifically, the Council's labour market report--"The Decade Ahead: Labour Market Projections and Analysis for Canada's Oil and Gas Industry to 2020"--finds that over 30% of the industry's core workforce is expected to retire within the next decade, driving the need to hire at least 39,000 workers.
Cheryl Knight, Executive Director and CEO of the Council says that "We are going into a perfect storm....Just when the industry needs workers the most, Canada's labour supply will be dwindling as the overall population ages. Our industry will need to be prepared to face a labour shortage more severe than in 2007." In fact, some oil and gas companies are already coping with chronic shortages for certain occupations, and shortages are expected in all core occupations as early as 2013.
Source: Petroleum Human Resources Council of CanadaNews Release (March 29, 2011)