Four “megatrends” signal a fundamental change in the global economy, and
suggest that STEM skills will become increasingly important to Canada’s future
productivity growth (CCA, 2013c). First, like many countries, Canada’s population
is aging, leading to slower growth in the labour force, which makes increasing
productivity all the more urgent to maintain living standards. Second, slower
labour force and demand growth in the United States, combined with more
rapid growth of a skilled labour force and demand in many emerging market
economies, presents new challenges for Canadian firms, governments, and
labour. Third, technological innovation and STEM skills can help mitigate
and address environmental concerns arising from increased global exploitation
of resources, especially energy. Finally, the rate of adoption of new technology
seems to be accelerating, leading to revolutions in fields such as information
and communication technologies (ICT), genomics, and nanotechnology.
Although the exact implications of these revolutions are impossible to predict,
to remain competitive Canadian firms across all sectors will need to be able
to both innovate and adapt. STEM literacy will also provide more options for
Canadians of all walks of life in a world of increasing technological change.