Wednesday, June 7, 2023
  • Login
CEO North America
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
  • Home
  • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
    • Environment
  • Opinion
  • News
  • Multimedia
No Result
View All Result
CEO North America
No Result
View All Result

Booming or struggling

in Editor´s Choice, Innovation
- booming or struggling
Share on LinkedinShare on WhatsApp

Canada is rapidly undergoing a two-tier labor market in the tech industry.

The tech industry has already created a two-tier labor market in the US, according to studies, and a recent report from TD Economics shows that Canada is rapidly undergoing the same phenomenon. 

The report, published August, 2019, explains how jobs are concentrated within five major Canadian cities that have benefited greatly from the sector. 

TD Economics concludes that the disparity could lead to wage and employment inequality within smaller cities that don’t have vibrant tech sectors.

Toronto, Montreal, Vancouver, Ottawa and Calgary make up about 70% of all digital services employment in Canada, the report says.

Beata Caranci, chief economist at TD Economics, told CBC that if pure market forces direct the job market then Canada runs the risk of following the path of the U.S., with the gap between the haves and have nots merely increasing.

According to the report, the issue with high-skilled workers being concentrated in a handful of cities is that it puts smaller cities at risk of having weaker housing markets, lower tax collection, and reduced infrastructure utilization. 

The report examined employment growth within four major Canadian cities between 2001 and 2017. It found that Toronto, Montreal, Vancouver, and Calgary accounted for 39% of all employment prior to the financial crisis which increased to 42% after the crisis. 

Nevertheless, in smaller cities the share of employment dropped from 42% to below 39% during the same timeframe.

Bucking the trend

There were nevertheless surprises among the cities seeing growth from tech. Kitchener-Waterloo-Cambridge (KWC), for example, which the report described as a “rising tech superstar city,” has seen employment growth of about 20% since 2010. 

The report said that digital services in the region grew by almost 130% between 2010 and 2018. 

In an interview with CBC, Tony LaMantia, president and chief executive of the Waterloo Economic Development Corporation (EDC), said that his organization has helped boost growth by supporting companies who are looking to relocate or expand. 

“A number of companies are expanding westward,” LaMantia said. “It’s about the market opportunity that’s presented here, the cost structure, but most importantly the talent.”

LaMantia specifically pointed to the two major universities in the region, University of Waterloo and Wilfrid Laurier University, which contribute to the larger talent pool. 

The TD Economics report makes the following recommendations to help avoid regional inequality increasing:

  • Making computer literacy courses obligatory for students as early as Junior Kindergarten.
  • Strengthening partnerships between tech firms and schools to ensure students acquire skills that are currently in demand in the industry.
  • Offering government guarantees and programs matching venture capital funding to companies in smaller cities.
  • Having infrastructure networks in smaller cities to encourage economic development.
Tags: CanadaCEOCEO NorthamEconomyJustin TrudeauLabor marketTech industryTrudeau

Related Posts

Trust, risk, and opportunity: overseeing a comprehensive data and privacy strategy
Business

Hackers are finding ways to evade newest cybersecurity tools

Cisco warns ai software could make phishing attacks harder to fend off
Business

OpenAI unveils new privacy options for ChatGPT

Global tech spend will slow to 4. 7% in 2023
Business

Global Tech Spend Will Slow To 4.7% In 2023

What’s hot this year in supply chain technology
Business

What’s hot this year in supply chain technology

Business benefits of a customer self-service strategy
Business

Business benefits of a customer self-service strategy

When retail buyers panic, a. I. Keeps calm
Business

When Retail Buyers Panic, A.I. Keeps Calm

A simpler path to better computer vision
Business

A Simpler Path to Better Computer Vision

Trust, risk, and opportunity: overseeing a comprehensive data and privacy strategy
Innovation

Trust, Risk, and Opportunity: Overseeing a Comprehensive Data and Privacy Strategy

Engineers solve a mystery on the path to smaller, lighter batteries
Innovation

Engineers Solve a Mystery on the Path to Smaller, Lighter Batteries

Adopting an ecosystem-first mindset in software
Business

Adopting an Ecosystem-First Mindset in Software

No Result
View All Result

Recent Posts

  • Videogame retailer GameStop fires CEO
  • Apple should buy Disney to harness potential of Vision Pro
  • How wildfire smoke affects human health
  • CNN’s CEO Chris Licht steps down
  • US trade gap widens to largest in six months as exports decline

Recent Comments

    Archives

    Categories

    • Art & Culture
    • Business
    • CEO Interviews
    • CEO Life
    • Editor´s Choice
    • Entrepreneur
    • Environment
    • Food
    • Health
    • Highlights
    • Industry
    • Innovation
    • Issues
    • Management & Leadership
    • Multimedia
    • News
    • Opinion
    • PrimeZone
    • Printed Version
    • Travel
    • Uncategorized

    Meta

    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials – stuart.james@ceo-na.com

    Advertising – media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

     

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    • CONTACT
    • GENERAL ENQUIRIES
    • ADVERTISING
    • MEDIA KIT
    • DIRECTORY
    • TERMS AND CONDITIONS

    Editorials –
    stuart.james@ceo-na.com

    Editor-In-Chief –

    caroline.sposto@ceo-na.com

    Editorials – editorials@ceo-na.com

    Advertising –
    media@ceo-na.com

    NEW YORK

    110 Wall St.,
    3rd Floor
    New York, NY.
    10005
    USA
    +1 212 432 5800

    MEXICO CITY

    Paseo de la Reforma 296,
    Floor 38
    Mexico City
    06600
    MEXICO

    CEO North America © 2022 - Sitemap

    No Result
    View All Result
    • Home
    • Business
      • Entrepreneur
      • Industry
      • Innovation
      • Management & Leadership
    • CEO Interviews
    • CEO Life
      • Art & Culture
      • Food
      • Health
      • Travel
      • Environment
    • Opinion
    • News
    • Multimedia

    © 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In

    Warning: array_sum() expects parameter 1 to be array, null given in /home/ceonacom/public_html/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111