Job prospects Mortgage Broker in New Brunswick

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Explore current and future job prospects for people working as a "mortgage broker" in New Brunswick or across Canada.

Job opportunities in New Brunswick

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be good for Other financial officers (NOC 11109) in New Brunswick for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment growth will lead to several new positions.
• Not many positions will become available due to retirements.
• There are a small number of unemployed workers with recent experience in this occupation.

• This occupational group is concentrated primarily in the financial sector, though there are now a wide variety of organizations offering specialized financial services (financial and estate planning, trust services, mutual fund sales, etc.), with banks and other financial institutions expanding their scope in recent years. Other financial institutions include investment/securities firms, brokerage houses and insurance companies.
• Hiring activity may vary, depending on activity in financial markets and the hiring needs of organizations. However, population growth should drive demand in most business areas.
• This occupational group contains several finance-related occupations that are similar but perform slightly differing tasks and require different training and experience. Individuals with knowledge of and experience in specific areas, such as financial planning, credit functions, insurance functions, asset underwriting or financial analysis, may have better employment opportunities. A sales background may also be beneficial.
• Activity is spread throughout the province, though demand is expected to be highest in Fredericton, Moncton and Saint John, where there are higher concentrations of financial services.
• Future demand will benefit from an aging population, which will have a greater demand for financial services related to retirement. This will particularly be the case for financial planners.

Here are some key facts about Other financial officers in New Brunswick:

• Approximately 300 people worked in this occupation in May 2021.
• Other financial officers mainly work in the following sectors:
  • Monetary Authorities - central bank and securities, commodity contracts and other intermediation and related activities (NAICS 521, 522, 523): 78%
  • Federal government public administration (NAICS 911): 8%
  • Accounting, tax preparation, bookkeeping and payroll services (NAICS 5412): 6%
• 84% of other financial officers work all year, while 16% work only part of the year, compared to 62% and 38% respectively among all occupations. Those who worked only part of the year did so for an average of 49 weeks compared to 42 weeks for all occupations.
• 20% of other financial officers are self-employed compared to an average of 10% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 34% compared to 52% for all occupations
  • Women: 66% compared to 48% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: 8% compared to 11% for all occupations
  • high school diploma or equivalent: 27% compared to 30% for all occupations
  • apprenticeship or trades certificate or diploma: 8% compared to 12% for all occupations
  • college certificate or diploma or university certificate below bachelor's: 28% compared to 23% for all occupations
  • bachelor's degree: 24% compared to 16% for all occupations
  • university certificate, degree or diploma above bachelor level: less than 5% compared to 7% for all occupations

Breakdown by region

Explore job prospects in New Brunswick by economic region.

Source Labour Market Information | Prospects Methodology

Labour market conditions over the next 10 years

Explore current and future job prospects for people working as a "mortgage broker" Other financial officers (NOC 11109) or across Canada.

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