The Province of British Columbia this month reflected on 2024 as it looks ahead to a decade of anticipated economic growth.
The Province noted a gain of 14,000 jobs in December, though such growth remains driven largely by public sector positions (only 4,300 of the jobs added in December were in the private sector).
Diana Gibson, who serves as BC’s Minister of Jobs, Economic Development, and Innovation, described the numbers as a “positive note” given the broader context of “slow global economic growth and the threat of proposed U.S. tariffs.”
Citing an unemployment rate of 6%—slightly below the national average of 6.7%—Gibson said “Our province continues to show strength with a gain of 4,300 private-sector jobs last month, building on additional private-sector job gains over the past few months.”
“As our province, as well as the rest of Canada and the world, meet economic challenges, we are working to attract investment and boost our economy with good jobs that support people to build good lives in B.C.,” the provincial minister stated.
In terms of the tech sector, B.C.’s latest Labour Market Outlook forecasts the creation of “almost 117,000 job openings in science, technology, engineering and math occupations over the next decade.”
These STEM roles are often technical or otherwise skilled positions. Pointing that post-secondary education and skills training therefore play invaluable roles in economic advancement, Gibson pointed to recent provincial investments into the region’s talent pipeline.
“Our government is investing nearly $75 million over three years toward creating 3,000 new tech-relevant spaces so more people can train for good jobs, as well as the clean, innovative economy of the future,” she stated.
Gibson is referring to a commitment made last year through the “StrongerBC: Future Ready Action Plan,” which accelerates talent development and skills training to address workforce challenges across sectors throughout BC.
“This is on top of the 2,900 student spaces created over the past six years, for a total of nearly 6,000 new tech-relevant spaces in B.C. since 2017,” the minister added.
The federal government has also been investing in BC’s tech talent pipeline recently. Last year, for example, the Pacific Economic Development Agency announced $9 million for two projects based out of the University of British Columbia.
Vancouver boasts Canada’s third largest metropolitan area by tech employment, with a workforce roughly 150,000 strong, representing 9% of total employment.
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