Occupation Projections — Classification - Finance (2024)

Updated: June 2023

Main—Download | Definitions | Methodology | Occupational Classification

You can download a comprehensive list of the 2021 National Occupational Classification (NOC) occupational groups, as well as examples of specific occupations within each group.

Full National Occupation Codes

National Occupational Classification

The occupation statistics are classified under the NOC 2021 . An occupation is defined as a collection of jobs sufficiently similar in work performed to be grouped under a common label for classification purposes. NOC is the nationally accepted reference on occupations in Canada. It is a standard framework that classifies and describes occupations.

Employment and Social Development Canada (ESDC) and Statistics Canada work collaboratively to complete NOC updates and revisions. The new NOC 2021 contains 516 occupations, up from the 500 unit groups included in the NOC 2016.

A major change in the NOC 2021 classification is the replacement of skill levels with the Training, Education, Experience and Responsibilities (TEER) categories. This new terminology is more precise, as the NOC assesses not the level of skills but the level of training, of formal education, of experience required to gain entry into each occupation, and the responsibilities associated to it. In the new NOC structure, there are six TEER categories, up from the current four skill levels. This change ensures clearer distinctions between the employment requirements associated with each TEER category, leading to a more consistent and homogeneous classification. The new TEER categories are defined as follows:

TEER 0: Management occupations

TEER 1:Completion of a university degree (bachelor’s, master’s or doctorate); or several years of experience in a specific occupation from TEER category 2 (when applicable).

TEER 2:Completion of a post-secondary education program of two to three years at community college, institute of technology or CÉGEP; or completion of an apprenticeship training program of two to five years; or occupations with supervisory or significant safety (police officers and firefighters) responsibilities; or several years of experience in a specific occupation from TEER category 3 (when applicable).

TEER 3:Completion of a post-secondary education program of less than two years at community college, institute of technology or CÉGEP; or apprenticeship training of less than two years; or more than six months of on-the-job training, training courses or specific work experience with some secondary school education; or several years of experience in a specific occupation from TEER category 4 (when applicable).

TEER 4:Completion of secondary school; or several weeks of on-the-job training with some secondary school education; or several years of experience in a specific occupation from TEER category 5 (when applicable).

TEER 5:Short work demonstration and no formal educational requirements.

There are 10 broad categories, 0 to 9, that are identified by the first digit of the NOC 2021 numerical code for all occupations.

0.Legislative and senior management occupations: This broad category comprises legislators and senior management occupations.
1.Business, finance and administration occupations: This broad category comprises specialized middle management occupations in administrative services, financial and business services and communication (except broadcasting), as well as professional occupations in finance and business; administrative and financial supervisors and specialized administrative occupations; administrative occupations and transportation logistics occupations; and administrative and financial support and supply chain logistics occupations.
2.Natural and Applied Sciences and Related Occupations: This broad category comprises occupations in natural sciences (including basic and applied sciences and experimental development), engineering, architecture and information technology. These occupations cover specialized middle management occupations in engineering, architecture, science and information systems; professional occupations in natural sciences (basic and applied sciences and experimental development); and technical occupations related to natural sciences (including basic and applied sciences and experimental development).
3.Health Occupations: This broad category comprises specialized middle management occupations in health care, as well as occupations concerned with providing health care services directly to patients (professional and technical occupations in health) and occupations that provide support to health services.
4.Occupations in Education, Law and Social, Community and Government Services: This broad category comprises managers in public administration, in education and social and community services and in public protection services, as well as occupations concerned with teaching, law, counselling, conducting social science research, developing government policy, and administering government and other programs, and related support occupations.
5.Occupations in Art, Culture, Recreation and Sport: This broad category comprises specialized middle management occupations in art, culture, recreation and sport, as well as professional, technical, support and other occupations concerned with art and culture (including the performing arts, film and video, broadcasting, journalism, writing, creative design, libraries and museums), recreation and sports.
6.Sales and Service Occupations: This broad category comprises middle management occupations in wholesale and retail trade, and customer services, as well as occupations concerned with wholesale and retail sales, and customer, personal and support service occupations related to a wide range of industries, such as accommodation and food services, travel, tourism and cleaning services.
7.Trades, Transport and Equipment Operators and Related Occupations: This broad category comprises middle management occupations in trades, transportation and equipment, as well as occupations such as technical trades and transportation officers and controllers; general trades; mail and message distribution, other transport equipment operators and related maintenance workers; and helpers and labourers and other transport drivers, operators and labourers.
8.Natural Resources, Agriculture and Related Production Occupations: This broad category comprises middle management occupations in natural resources, agriculture and related production, as well as occupations concerned with supervision and equipment operation in the natural resource-based sectors of mining, oil and gas production, forestry and logging, agriculture, horticulture and fishing. Harvesting, landscaping and natural resources labourers are also included. Most occupations in this category are industry specific and do not occur outside of the primary resources industries.
9.Occupations in Manufacturing and Utilities: This broad category comprises middle management occupations in manufacturing and utilities, as well as occupations concerned with supervisory, production and labouring in manufacturing, processing and utilities.

Further detailed information about NOC can be found at https://noc.esdc.gc.ca/?GoCTemplateCulture=en-CA.

Questions and requests related to the projections should be addressed to the Economics Division.

Economics Division, Department of Finance – (709) 729-3255 – infoera@gov.nl.ca

As an expert in occupational classifications and labor market structures, I bring a wealth of knowledge and experience to the table. My expertise is rooted in a deep understanding of the National Occupational Classification (NOC) system, particularly the latest version, NOC 2021. I have closely followed the updates and revisions made by Employment and Social Development Canada (ESDC) and Statistics Canada, ensuring I stay abreast of the changes and nuances in the occupational landscape.

The recent shift from skill levels to the Training, Education, Experience, and Responsibilities (TEER) categories within NOC 2021 reflects a profound understanding of the evolving nature of work. This change emphasizes a more precise evaluation, considering not just skill levels but also the training, formal education, experience, and responsibilities associated with each occupation. With six TEER categories replacing the previous four skill levels, this reclassification ensures clearer distinctions and a more consistent classification across occupations.

Here's a breakdown of the key concepts and information from the provided article on NOC 2021:

  1. NOC Definition: The National Occupational Classification (NOC) is a standard framework in Canada that classifies and describes occupations. It serves as the nationally accepted reference on occupations, grouping jobs sufficiently similar in work performed under a common label for classification purposes.

  2. Collaboration: Employment and Social Development Canada (ESDC) and Statistics Canada collaborate to complete NOC updates and revisions.

  3. Changes in NOC 2021:

    • The new NOC 2021 includes 516 occupations, up from the 500 unit groups in NOC 2016.
    • The major change is the replacement of skill levels with TEER categories, providing a more precise evaluation of training, education, experience, and responsibilities.
  4. TEER Categories:

    • TEER 0: Management occupations.
    • TEER 1: Completion of a university degree or several years of experience in a specific occupation from TEER category 2.
    • TEER 2: Completion of a post-secondary education program of two to three years, apprenticeship training, supervisory or safety responsibilities, or several years of experience in a specific occupation from TEER category 3.
    • TEER 3: Completion of a post-secondary education program of less than two years, apprenticeship training of less than two years, or more than six months of on-the-job training with some secondary school education, or several years of experience in a specific occupation from TEER category 4.
    • TEER 4: Completion of secondary school, or several weeks of on-the-job training with some secondary school education, or several years of experience in a specific occupation from TEER category 5.
    • TEER 5: Short work demonstration with no formal educational requirements.
  5. NOC Broad Categories (First Digit of NOC Code):

    • 0. Legislative and senior management occupations.
    • 1. Business, finance, and administration occupations.
    • 2. Natural and Applied Sciences and Related Occupations.
    • 3. Health Occupations.
    • 4. Occupations in Education, Law and Social, Community and Government Services.
    • 5. Occupations in Art, Culture, Recreation and Sport.
    • 6. Sales and Service Occupations.
    • 7. Trades, Transport and Equipment Operators and Related Occupations.
    • 8. Natural Resources, Agriculture and Related Production Occupations.
    • 9. Occupations in Manufacturing and Utilities.
  6. Detailed Information: Further information about NOC can be found at .

For any inquiries or requests related to projections, individuals can contact the Economics Division at the Department of Finance using the provided contact details: Economics Division, Department of Finance – (709) 729-3255 – infoera@gov.nl.ca.

Occupation Projections — Classification - Finance (2024)
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