10 Aug 2019
Toronto has a high performing tech sector that reverberates in commercial and residential market in real estate. The city generated 80,000 new jobs related to technology between 2013 and 2018. It enjoys a respectable position (third) among the 50 North American cities as per the recent CBRE report. This reveals the true picture of the Canada Immigration and the job market.
Apart from it there are other prominent places like Vancouver, Ottawa and Montreal in the top 20. Other Canadian markets like Waterloo Region, Hamilton, Edmonton, Winnipeg, Quebec City, and Calgary also appear on the list of 25 rapidly increasing tech centers.
These rankings reveal an assessment of the markets their competitive appeal arrived by studying 13 indicators that together show the employment trends and other factors that help in attracting and sustaining the tech labor force.
There are 20 different jobs, like the Systems and Data Managers, Software Developers, Programmers, besides Engineers and Engineering Technicians. In 2018, 833,000 citizens of Canada, equivalent of 5.3 percent national employment, and 5.2 million Americans, corresponding to 3.7 percent of the workforce U.S., filled up these positions.
37 percent are directly rooted in the high-tech industry, and there is a sizable section involved in technical roles of other sectors. The domains of finance, real estate and insurance have a share of 8.3 percent tech positions. Moreover, the high-tech sector generated several non-tech jobs in the domains of management and support services.
In Canada immigration has a multiplier effect leading to growth of Tech job in the economy. Tech talent fuels innovation and successfully adapts technology in the non-traditional sectors. This results in better Canada Jobs and an increase in productivity.
Last year tech tenants were involved in office deals collectively for 1 million sq. feet space. Moreover there are two new towers currently under construction with a 634,000 square feet in The Well, and 132,000 square feet in the, CIBC Square. Also there are other deals in place. Also five large tech office deals were happened in Vancouver that account for 671,700 sq. feet absorption. The five largest deals in Montreal were to the tune of 380,700 square feet and in Ottawa for 188,600 square feet.
A Deep Talent Pool Improves Innovation Spirit
The four cities in Canada surpass the threshold of 50,000 workers to meet the specification of a huge tech talent pool of CBRE.
Canada Jobs in Toronto and Ottawa
There were 228,500 tech jobs in Toronto and 64,500 in Ottawa. Toronto had an intense growth in the five-year period, and expanded hugely at 54 percent. Jobs in Canada give an impetus to innovation and the presence of youth in their twenties provides a great and important demographic. This also offers a promise of growth in expertise and a good beginning into the future offering economic development.
There is a good pace of inward-migration and the affordability for employers and employees is also strong.
The Factors leading to a positive growth in Canada Jobs are
Presence of post-secondary institutions,
Matching of skills to opportunities
Unique urban backdrop to nurture the workforce and build tech industry
Canada Jobs for Tech Professionals
Another feature is the distinguishing of top tech markets from the rest owing to the presence of tech clusters and high concentrations of tech talent.
Toronto is a beneficiary of flourishing tech clusters because of the link with Universities of Toronto and Waterloo, Vancouver benefits from University of British Columbia and Montreal from the McGill University. Waterloo has 314 start-ups that raised capital of USD $7.4 billion while McGill has 304 start-ups that raised USD $7.1 billion.
Canada Jobs Top Cities Serve as an Example
Toronto and Vancouver benefitted immensely from inward migration and the Arriving personnel helped in filling 22,300 new jobs in Vancouver during 2013-2018.
Montreal made an addition of 16,600 tech jobs during 2013-2018 representing 14.6 percent growth of workforce.
The Tech professionals can expect to find a low rent in Montreal, and enjoy a great buying power in Canada.
Vancouver demanded a 20.7 percent of earnings for accommodation, while residents of Toronto had to pay 20 per cent.
Canada Jobs- Currency Difference Boosts Cost Competitiveness
Canadian cities of Toronto, Montreal and Vancouver have large population. Having residents as high as 6.4 million, the GTA is larger two and half times in comparison to the San Francisco Bay Area and nine times as large as Seattle.
The difference in currency value is marked by low combined space and labor cost for employers in the cities of Toronto, Ottawa, Vancouver and Montreal. CBRE the cost of a 500-staff tech firm that occupies 75,000 sq feet in USD is $59.4 million in San Francisco but USD $28.6 million in Montreal.
Prospects of Canada Jobs Keep Improving
Canada Jobs have a good savings through reduced labor costs. In Toronto, the space is 57 percent cheaper than the equivalent space in San Francisco and 26 percent cheaper than in Seattle. Labor cost is 48 percent lower than in the San Francisco and 41 percent lower compared to Seattle.
Start-ups and companies keen on expanding find it easy to get an office space in Seattle, which had a vacancy rate of 9.4 percent whereas in Toronto it was 7.1 percent.
Canada also has prominence owing to the favorable cost comparisons in the second-tier markets with a growth orientation.
Other Promising Reasons
Hamilton and Waterloo Region secured a second and third rank. There was a 52 percent growth in tech jobs in Hamilton and it had 18,100 qualified and Skilled Tech Workers; whereas the figures for Waterloo are 42 per cent, with a staff of 20,500.
Opportunity markets earn a name by offering quality labor pools and a sense of affordability supporting quick scalability. Also such markets are ideal for small operations, and also for start-ups and technology jobs in non-technology sectors like media, banks, and service firms.
Edmonton has the ninth rank and Quebec City, Winnipeg and Calgary are at the bottom of the group. Calgary has a large tech workforce of 38,500. Thus the scope of Canada Jobs in the technology domain is good and it is moving towards the better with each passing day.
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