Toronto is leading the United States and Canada in high-tech job growth

Toronto is the largest market for high-tech job growth across both Canada and the United States, according to a new report from real estate and investment firm CBRE Group.

The city as a whole ranked ahead of 29 other leading technology markets, with the number of high-tech jobs in Toronto growing by 26.4% from 2019 to 2020 to 192,200 jobs. This is an even bigger jump than the job growth of 22.4% seen between 2018 and 2019.

toronto tech job

CBRE

Toronto was ahead of technology hub Seattle, which saw job growth of 21.9%, Vancouver with a growth of 20.9%, New York with a growth of 17.9% and Austin with a growth of 16.4%. Montreal is in sixth place with a growth of 14.6%.

And for the first time ever, the number of high-tech jobs in Toronto has almost caught up with the number of other non-technology-related office jobs.

toronto tech job

CBRE

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Toronto itself did not see much change when it came to the price of office rent. In fact, they fell 0.1% from 2019 to 2021. But when you look at the city’s Downton West sub-market, office prices in particular have risen markedly over the last two years. From spring 2019 to spring 2021, the Downtown West area experienced a jump of 17.4% – the third highest out of all the technical submarkets surveyed.

toronto tech job

CBRE

“Over the past year, the technology industry has proven to be a robust industry that grew through the pandemic,” said Colin Yasukochi, CEO of CBRE’s Tech Insights Center. “Many technology companies, like other industries, embrace hybrid work formats to give their employees flexibility. But the industry also values ​​the physical office’s collaborative environment and its role in bringing employees together to promote innovation.”

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