Across Canada, tech job growth is high, putting pressure on talent pipelines everywhere.
According to data released by CBRE through its Tech-30 report, Vancouver saw 44% growth, placing them first on the continent. The BC city was followed by another iconic Canadian tech hub, Toronto, at 37%.
“Vancouver had the highest high-tech job growth at 44% and Toronto created the most jobs (60,000) over the past two years,” the report noted.
“Tech industry job growth remains well above the national average,” the report stated. “Economic headwinds in the year ahead likely will slow but not end high-tech job growth.”
Overall, the North American tech market has created nearly two million jobs in the past decade, with roughly a quarter of those roles being created just within the last two years.
Deloitte’s recent “Technology, Media & Telecommunications 2023 Predictions” report highlights the biggest global tech trends and how they could impact businesses, consumers, and talent.
In the current market, consumers “are looking for more cost-effective ways to communicate, to be entertained, and to be productive, while businesses are looking for efficient ways to innovate in order to compete, differentiate, and grow revenue,” said Kevin Westcott, of Deloitte, and such demand for innovation tends to open up new potential career opportunities.
For example, Deloitte predicts the number of video game company mergers and acquisitions will continue to increase by around 25%, and this could impact BC, which boasts one of Canada’s largest gaming industries.
With “pent-up demand for next-gen experiences,” Canada’s video game sector is heating up to new levels and companies will need talent to make it happen—especially in Vancouver, an “established gaming centre of excellence,” according to Deloitte.
British Columbia is already home to the world’s largest animation and visual effects cluster, accounting for 70,000 full-time jobs and more than $3 billion in annual income, according the BC Chamber of Commerce.
Other sectors to keep an eye on include semiconductors—where a supply shortage is so bad that artificial intelligence is being employed in an effort to “help close the chip talent gap”—and e-commerce, which continues its unabated growth even in the face of market downturns and inflation via trends like “Buy Now, Pay Later” and “social shopping.”
BNPL payments are projected to grow more than 60% to reach $6 billion in Canada this year, according to data analytics company Research and Markets. These payments expect to account for up to a quarter of all global e-commerce transactions by 2026.