Job prospects Mortgage Underwriter in Newfoundland and Labrador

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Explore current and future job prospects for people working as a "mortgage underwriter" in Newfoundland and Labrador or across Canada.

Job opportunities in Newfoundland and Labrador

These outlooks were updated on November 29, 2023.

Prospects over the next 3 years

The employment outlook will be moderate for Other financial officers (NOC 11109) in Newfoundland and Labrador for the 2023-2025 period.

The following factors contributed to this outlook:

• Employment is expected to remain relatively stable.
• A moderate number of 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 particularly sensitive to changes in the finance and insurance sectors as almost all financial officers are employed in this sector, working at financial institutions such as banks, investment/securities firms, brokerage houses and insurance companies. 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.

Here are some key facts about Other financial officers in Newfoundland and Labrador:

• Approximately 100 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): 54%
  • Federal government public administration (NAICS 911): 28%
  • Provincial and territorial public administration (NAICS 912): 14%
• 82% of other financial officers work all year, while 18% work only part of the year, compared to 56% and 43% respectively among all occupations. Those who worked only part of the year did so for an average of 48 weeks compared to 40 weeks for all occupations.
• 22% of other financial officers are self-employed compared to an average of 8% for all occupations.
• The gender distribution of people in this occupation is:
  • Men: 32% compared to 51% for all occupations
  • Women: 68% compared to 49% for all occupations
• The educational attainment of workers in this occupation is:
  • no high school diploma: n/a
  • high school diploma or equivalent: 26% compared to 27% for all occupations
  • apprenticeship or trades certificate or diploma: n/a
  • college certificate or diploma or university certificate below bachelor's: 22% compared to 23% for all occupations
  • bachelor's degree: 48% compared to 14% for all occupations
  • university certificate, degree or diploma above bachelor level: n/a

Breakdown by region

Explore job prospects in Newfoundland and Labrador by economic region.

Source Labour Market Information | Prospects Methodology