Statistics Canada data suggests that job vacancies are on the rise, with nearly a million unfilled positions as of August.
Do we have enough talent in the pipeline?
The last few months have also seen a number of Canadian firms laying off workers, even in hot regions like Vancouver, whose momentum is now in flux.
How does this impact the state of tech and talent in Canada?
Coupled with the threat of recession, these salient factors have many young professionals examining how they can better prepare for next wave of economic uncertainty.
Professionals are on edge, believes LinkedIn, with most “bracing themselves to counter the challenges of the downturn.” As part of the preparation, many are “career cushioning”—which is described as “taking actions to equip themselves with what may come next in the economy and job market.”
LinkedIn notes that members have added nearly 400 million skills to their profiles within the past year, up 43%. The organization recommends building up “soft skills” as they are emerging among the most important skills companies look for during uncertain times, according to research.
“Skills for today’s jobs have changed by 25% since 2015 and that number is expected to double by 2027,” Monica Lewis, senior director of product for LinkedIn, wrote in September. “Keeping your skills sharp has become more important than ever in landing opportunities.”
Lewis says LinkedIn offers support in helping young professionals feel secure about their job experience and offers ways to upskill. Beyond digital networking and actionable research insight, LinkedIn also offers courses available to anyone online.
“We know it’s becoming increasingly challenging to navigate your career, especially during times of uncertainty,” Lewis said. “Whether you’re learning skills for a new job, preparing for a career change, or looking to grow in your current role, it’s never been a better time to invest in sharpening your skills.”
Stay active in Canada’s tech talent space through TechTalent.ca’s free Job Fairs and Job Board.
