This article highlights employment trends and opportunities in Toronto, Ontario. Toronto is a metropolis with a population of over 2.48 million people and 5 million people in the Greater Toronto Area (GTA). According to the latest survey conducted in 2007 by the Planning Division of the City of Toronto, Toronto has experienced positive job growth for the past four consecutive years. Employment in computer services, law, and the food industry are booming, while the industry is experiencing a decline in employment.
Another way to look at the growth of the sector is to note that the offices and services sectors have grown significantly over the past decade, making Toronto a highly sought after place for companies. At the same time, similar to the trend in the rest of North America and even the industrialized world, production jobs in Toronto have shrunk by 11.5% over the past 10 years. Key to cutting jobs in the industry are high rents and lack available space and, of course, fierce global competition.
Startups and Technology, Bright Spots
Toronto is a popular spot for startups. More than 38% of Toronto companies have been in their current locations for less than 5 years. Toronto is a major Canadian technology center, attracting a large portion of startups and capital. According to a survey by Deloitte Canada, 6 of the 10 fastest growing Canadian technology companies in 2007 were based in Toronto (and 2 more in the area, in Markham and Waterloo). Thus, Toronto’s position as a high-tech hub for job growth is indisputable.
Major employment areas in Toronto
Downtown Toronto with its tall buildings and offices accounts for 1/3 of the total employment in the survey. The number of jobs in the city center grew by 4.6% in the past survey year. North York Center experienced a much faster growth of 12.6% during the same period. This growth is mainly related to the office sector. Yonge-Eglinton has remained relatively stable in its employment statistics, while Scarborough Center suffered from job losses due to the consolidation of a large telecommunications company.
In summary, Toronto is a thriving metropolis that increases its job prospects in the high-tech, service and office sectors while cutting jobs in manufacturing. With the steady influx of immigrants from other parts of Canada and abroad, Toronto has the opportunity to steadily supplement the workforce.