Autumn approaches. Can you smell the pumpkin spice?
As leaves turn from green to red, and our wardrobes from tees to flannels, let us take a bird’s eye view of the current trends impacting Canadian tech talent.
A Slowdown in Talent Growth…
Tech talent growth slowed last year in Canada, where jobs are increasing at less than half of the rate of the US, a recent CBRE report found.
Tech talent employment grew in the US by nearly 4%, or over 200,000 jobs, in 2023. In Canada, meanwhile, 18,000 new positions represented a growth rate of less than 2%. The numbers for both countries are down markedly from 2022.
…but Not in AI
Amidst an overall hiring slowdown, artificial intelligence was identified in the report as the hottest growing skill across the continent (although software engineering remains the most employable).
Hence announcements such as The Adaptavist Group recently launching its “Adapting for Tomorrow” Program—an intensive six-month program specifically tailored to early-stage generative AI startups in Toronto—as well as The Government of British Columbia continuing its partnership with NPower Canada, Microsoft Canada, and CIBC to expand the Canadian Tech Talent Accelerator program, which is aimed at equipping the workforce with digital skills “necessary … for the burgeoning AI economy.”
Amazon is Everywhere
Amazon recently unveiled the latest developments at both its Vancouver and Toronto Tech Hubs, introducing new features and office space for more than 8,500 corporate and technology employees.
The Post is the flagship office building at Amazon’s Vancouver Tech Hub, where more than 4,500 employees work.
Amazon is the sole corporate tenant at The Post, with over one million square feet of office space. The company completed its move-in to the South Tower earlier this year, while the North Tower is on track to open in 2026.
Not to be outdone by awesome developments on the West Coast, Amazon’s Toronto Tech Hub launched Canada’s first in-office Just Walk Out Technology Store this month at their YYZ14 office.
Amazon is also involved in PwC’s new “Jump Start Your Career” program, which will provide 125 final-year university students across Canada with fully funded AWS certifications and technical mentorship from PwC experts, as well as the opportunity for four finalists to secure roles within PwC’s Cloud Engineering team.
Should B.C. Be Concerned?
There is currently a “remarkable expansion within the technology sector” of British Columbia, suggests a report from Invest Vancouver, that is “driving economic development in the Metro Vancouver region.”
However, to sustain momentum, it is critical for the tech sector to adapt to “pressing challenges and opportunities,” warns the report, which examines investment and labour trends in the regional tech sector.
Currently, tech jobs account for one in ten roles in Vancouver, among the highest rates in Canada, and the array of tech companies operating in the area is also among the nation’s most diverse. But the report outlines concerns that could negatively impact future outcomes for the sector.
The cost of living, and other factors impacting talent attraction, rise to top-of-mind in the report. Why? Because the region’s talent pool is among its “key assets.”
“Access to high-quality talent is the primary reason multinational firms chose to invest in the region and, in some cases, further expand,” the report posits.
