An analysis of Canada’s largest technology job creators finds that the country’s tech sector is growing faster than the rest of the country.
The report, from the BMO Capital Markets Canada Research Institute, found that in 2017, the country employed nearly 1.3 million people in the technology sector, a figure that grew almost seven per cent annually from 2016.
Canada has seen a steady rise in the number of Canadians working in technology jobs in recent years, and the job market has expanded, with tech firms accounting for nearly 20 per cent of jobs in 2017.
“We see this sector grow more than all other sectors in Canada, and Canada has seen significant growth in that sector over the last 10 years,” said Andrew Janssens, a senior research associate with the BMA.
“Canada’s growth in the sector has been pretty steady, and it’s just continuing to expand.”
According to the BCA report, the sector employs more than 9.5 million people, representing more than 25 per cent in total, and employs nearly two-thirds of the Canadian population.
“The overall job market in Canada has been fairly robust, and there’s been a pretty steady growth in employment,” Janssen said.
The growth in tech employment is expected to continue as more companies invest in the industry, with some companies investing in new research and development labs to develop new technologies, as well as expanding their presence in the market.
The study found that over the past decade, the number in the tech industry increased from 7.4 million in 2015 to 13.6 million in 2017 and 13.8 million in 2018.
That increase was attributed to a variety of factors including the recent financial crisis and an increase in international expansion.
“Canada has an increasing number of people in this industry, but I think there’s a lot of work to be done,” said Janine Cools, CEO of eGizmo, a Canadian technology company.
Cools said her company was working on an app that would give users the ability to buy and sell digital products, and that the app would be available to users in the U.S. and Europe as well.
“For us, this is a really important step, and we’re really excited about it,” she said.
“When we’re in the marketplace, we’re trying to create a platform that connects people to each other.”