According to the new studies conducted, Toronto went up as the leading city leaving behind both Canada and the United States in creating a high number of tech jobs in the year 2012-2017. The growth of tech jobs in Toronto outpaced the traditional tech hubs like the Bay area of San Francisco.
The Growth of Tech Jobs in Toronto
The latest update on tech jobs in Toronto says, “Toronto created more than 82,000 tech jobs during the last five year period which is 4,300 more in the number of tech jobs created in the San Francisco Bay area in the same time frame.”
The addition of 28,900 tech jobs in Toronto in 2017 i.e. an increase of 13.6% over the previous year has made it the fastest growing tech market for the 2nd year in a row in North America.
As per the overall report of the “2018 Scoring Tech Talent” produced by CBRE Canada (part of the Fortune 500 CBRE Group headquartered in Los Angeles), “Toronto had placed itself as the 4th out of 50 cities in North America constituting the 2018 scoring tech talent report.”
The Tech Talent Score Card is determined by including growth concentration, tech talent supply, industry outlook for tech job growth, all completed tech degrees, cost, growth, and the market outlook for both the apartment rent cost growth – all the 13 unique metrics.
Toronto is even placed for the first time in terms of “Brain Gain” that can be explained by the difference of a number of jobs created, and the number of tech degrees granted in a given city in the years 2012-2017. As compared to the gain of 46,529 in San Francisco Bay’s area, Toronto added and posted a gain of 55,025 during 2012-2017.
As per the latest survey report conducted by Toronto’s MaRS Discovery District, “45% of the tech companies in Toronto hired international candidates in 2017 and 53% experienced the sudden increase of international applications in 2017 over 2016.”
Ottawa Placed on Top in “Momentum Market Category”
The capital nation of Canada, Ottawa which is a home to the global the powerhouse Shopify, got the 13th place overall, and took the top spot in the category called “Momentum Market.” It’s the quickest growth in North America in the tech talent market.
In 2016, the tech employment growth in Ottawa was 15.2%, while in 2017, it’s 3.5% higher than the second place Los Angeles (11.7% growth).
The companies who are looking to house operations are looking forward to moving to Canada. Toronto is among the best in values for the tech firms’ quality options as compared to the cities like Washington, Newark, Los Angeles, New York, and D.C. Canada has shown examples of providing access to very high quality of labour at a fraction of cost.
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