Canada is outpacing the U.S. with its tech talent workforce growth

According to a report by The Canadian Times, Canada’s tech workforce growth over the past 12 month has outpaced the U.S. LinkedIn’s Workforce Report for Canada.

The report revealed that Canada had a 1.6 per cent growth rate compared to the United States’ 1.1 per cent increase, which it saidThis could be due to a variety of technological workforce trends.

It noted that Canadian tech companies are seeking to expand their businesses. It also noted that many other industries in Canada are increasing their tech capability. 

Canadian venture capital investment rose by 215 Percent to C$14.2 Billion last year. According to the Canadian Venture Capital and Private Equity Association, the Information, Communications & Technology sector pulled in over C$9 billion of that amount.

According to the LinkedIn report Canadian technology companies are seeing headcount and company growth. 1Password, a Toronto-based cybersecurity company, has closed the largest Canadian investment round since January. It plans to double its workforce in the coming year. 

There has been growth in other sectors as well, such as the telecommunications sector and banking. Major lenders, such as TD Bank, have gone on a hiring spree in tech areas as they expand into areas like artificial intelligence, cybersecurity and automation tools.

American companies are also looking beyond the United States for talent due to the growing trend towards remote work, which allows employees to work from anywhere. And bTech jobs have been added by ig tech companies like Google, Amazon and Reddit. 

Technology talent is exploding across the country. However, the cities with the greatest growth are Calgary, Vancouver, Toronto. 

They saw an increase in digital skills of 6.3%. However, tech talent growth was just 4.7% in the top U.S. cities, including New York City, San Francisco Bay Area and Seattle. 

According to the report, Canadian universities like the University of Toronto or the University of Waterloo are also producing tech workers.

According to the Waterloo Region Economic Development Corporation (WREC), the University of Waterloo enrolled more engineering students than Stanford and MIT. The University of Waterloo’s engineering students graduate with two years on-the-job experience in global companies. 

Data engineer, back-end developer, software engineering manager and implementation scientist are the tech jobs that saw the greatest growth in one year.