Europe, especially UK and Germany can’t keep up with North American countries regarding technologies. Canada and the US take advantage of every innovation while the bureaucratic system in the UK and Germany does not give a chance to the business sector to flourish in a better ecosystem. How Canada could add 30,000 jobs in February alone and how the tech industry contributes billions of dollars to the economy every year?
According to Canada’s National Statistics Office, the nation’s unemployment rate went down almost six percent as 30,000 jobs became available last February. Statistics Canada pointed out that such numbers have exceeded expectations amid the threat of COVID-19.
Furthermore, such gains were attributed by the agency to Quebec, with its recorded three consecutive months of job gains, and lowered unemployment rates. Statistics Canada’s latest labor force survey attributes the nation’s gains to over 37,000 fulltime jobs, while a decline in part-time employment also happened.
The Tech boom started in Canada back in 2012. Back then, the government of the country decided to focus more on technologies. Along with the new prime minister, technology has been a vital part of business success. In 2016, the new prime minister tripled the help of the government to the tech industry. The biggest industry that got the government’s back was online gaming. Both, online gambling and e-sports are very dominant in Canada. Especially iGaming industry has seen the massive rise. The government made a move that got a win-win position for both – government and the iGaming sector. Over the year, government was the biggest friend of the online casino and betting industry. Big technological advancements were tested on iGaming space and every decision became successful. Everything started with implementing diverse financial technologies. It’s been few years already that Canadian online casinos offer gamers different types of payment options including Qiwi wallet, PayPal, Payoneer, and Blockchain. Adding blockchain as the payment option was the game-changer for the Canadian online casino sector. After that decision, real money online roulette casinos started offering Bitcoin and Ripple transaction that attracted the attention of millions of international gamers. Bitcoin saw a big rise in 2017 and became a massive hit around the world. Canada’s government used that chance and allowed local businesses to take advantage of Bitcoin’s boom. Canadians have witnessed the same approach of government to other tech industries.
Canada’s Latest Success Due to Its Ongoing Technological Boom
Canada’s entire tech scene is booming, thanks to the onset of companies that have set up shop in several tech cities and regions in the country. This boom is due to Canada’s decision to remain open to immigrants, especially skilled workers looking for employment in the nation.
Currently, the Canadian tech scene boasts of Amazon’s and Google’s upcoming expansions, numerous artificial intelligence research centers, and many other well-known and fast-growing tech companies that chose Canada for its diverse and highly skilled workforce.
Toronto alone has over 230,000 tech workers. Not only does the boom in the tech sector boost businesses and employment in Canada; It also allows real estate to grow. The convergence of immigrants and Canadians within the tech sector makes for a diverse and vibrant community that attracts many foreign investors.
Canada Adds 30k jobs in February.
The month of February became a good gauge for the Canadian economy when available jobs rose to more than 30,000. Although overall, the nation’s unemployment rate has remained low in the last 40 years, the small uptick in numbers shows something significant about the economy.
For three months in a row, there was continuous and stable job growth in Canada, until the onset of the COVID-19 outbreak. But despite the ongoing crisis, the results of Statistics Canada’s recent survey depict how well the nation was doing before the public health and economic catastrophe began.
Canada Will Be a Hub of Tech Giants in 2020
There is already a large number of foreign companies moving overseas to open their offices in Canada. The last few years have seen tech giants such a Facebook, Google, Amazon, and Twitter expand to thriving cities like Toronto, Waterloo, Montreal, and Vancouver.
Even Prime Minister Justin Trudeau is widely aware of the fact that Canada continues to be a land of opportunity, especially for immigrant tech workers seeking employment. Through the country’s open immigration policies, talented professionals can enter Canada, fill up the workforce, and attract more foreign companies. Trudeau particularly cited Waterloo as a growing hub of technological innovation and disruption strong to solidify Canada’s claim as one of the foremost tech hubs of 2020.
Currently, Canada’s top tech cities include Toronto, Ottawa, Vancouver, Waterloo, and Montreal. These cities provide Canada’s tech industry with a combined number of 500,000 tech workers. In this regard, Canada is recognized as a hub for tech giants because it can fulfill the workforce requirements of massive companies even amid threats of global recession and crises.
