Toronto’s tech sector is continuing its boom, according to the city’s 2019 Employment Survey results.
And that is no surprise.
According to the results of the 2019 Toronto Employment Survey, not only did tech grow, total employment in the city went up by 3.1 per% compared to 2018, which is a year-over-year increase of 46,920 jobs for a total of 1,569,800 jobs.
In the technology sector specifically, total employment for 2019 was 60,408 jobs, which represents an increase of 16.6% from 2018. What’s most impressive is that is a whopping 84.6% from 2014.
The survey found there were 1,729 tech establishments in 2019, which represents an increase of 15.5% from 2018 and 85.7% from 2014.
“I’m proud that our latest Toronto Employment Survey results provide further proof of our city’s ongoing success,” said Mayor John Tory. “We are the fastest growing city in North America. People want to live here and they want to work here. Every job is important and I am focused on making sure we continue to grow more businesses here – across all sectors — and that we attract more businesses to locate here to create more jobs.”
In the fall, CBRE released its Canadian Tech Talent Ranking and revealed that Toronto is far outpacing Canada’s other leading tech centres. After adding an impressive 80,100 tech jobs between 2013 and 2018, Toronto claimed the top spot for tech employment in Canada last year.
Tory acknowledges the growth of the sector, and ensures his commitment to keep it rising.
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“It’s no secret that a key feature of Toronto’s economy in the 21st century has been the rise of our technology sector,” said Tory. “The survey results reinforce this growth – with the total number of tech businesses almost doubling over the past five years and an incredible 85% increase in jobs in the tech sector over the same time period. I’m committed to continuing to grow our city’s economy, and protecting Toronto’s success.”
In Toronto’s study, they defined the tech sector as “the group of firms that create technological platforms to enable new services or industries, with pioneering or disruptive technology at the core of their business model.”
In 2019, jobs in tech establishments represented 4% of all jobs in Toronto.
Overall, full-time employment increased by 31,930 jobs (2.8%) from 2018, and four out of six employment categories grew.
According to the survey, the “Office” category continues to be Toronto’s largest employment category, with nearly half of all jobs (48%), followed by Institutional (17.4%), Service (12.6%), Retail (9.8%), Manufacturing (8.7%), and Community & Entertainment (3.6%).
The city said the 2019 Toronto Employment Survey collected data from 76,560 businesses, adding that the program contacts approximately 99% of Toronto’s public-facing business establishments, excluding home-based employment.
The Toronto Employment Survey is conducted from May to August each year.
Since 1983, the City of Toronto has conducted this annual survey “to monitor economic activity, provide information for policy and decision-making and offer additional context for the planning of municipal infrastructure and services.”