Fast-growing Canadian tech companies are in hiring mode and bringing in highly-skilled immigrants to fill jobs despite the COVID-19 global pandemic, reveals a new report from the Innovation Economy Council.<\/p>\n
\u201cCanada\u2019s booming technology sector appears to be holding its own in the global race for talent, even after the economic shock of the COVID-19 pandemic,\u201d writes <\/span>Barrie McKenna, author of Magnetic North: How Canada Holds Its Own In The Global Race For Innovation Talent.<\/span><\/p>\n The report produced by the coalition of tech-sector leaders dedicated to shaping Canada\u2019s industrial innovation policy was released this month. \u00a0<\/span><\/p>\n It gives top marks to Canada\u2019s Global Talent Stream<\/span><\/a>, an immigration program through which skilled workers can expect to get their Canadian work permits and Canadian visa<\/span><\/a> applications processed within two weeks.\u00a0<\/span><\/p>\n \u201cThe resilience of tech employment in uncertain times is a testament to some of the sector\u2019s key strengths: an immigration system that welcomes skilled foreigners, a steadily growing crop of post-secondary STEM graduates, generous (research and development) tax credits and a thriving ecosystem of start-up companies,\u201d notes the report.\u00a0<\/span><\/p>\n Read more:<\/b><\/p>\n Canada Updates Tech Occupations Targeted Through Global Talent Stream<\/a><\/span> \u201cForeign tech giants and emerging companies alike are building operations here to tap our talent in artificial intelligence, cloud computing, bioengineering and other fields. The federal Global Talent Stream program is bringing senior talent to Canada. This all suggests that Canada is on the right track.\u201d<\/p>\n Since the start of the pandemic in Canada, the number of job postings in STEM fields, those in science, technology, engineering and mathematics, dropped by 50 per cent, an indication that the tech sector in this country may be losing momentum, the report acknowledges.<\/p>\n \u201cIt\u2019s not assured that Canada\u2019s advanced industries will be able to sustain the momentum they had before COVID-19,\u201d writes <\/span>McKenna.\u00a0<\/span><\/p>\n The current situation, though, is still good for highly-skilled immigrants seeking work in Canada\u2019s tech sector.<\/p>\n \u201cJobs in STEM fields \u2026 are holding up much better than employment in the rest of the Canadian economy. After an initial dip, there are now nearly 100,000 more STEM jobs than there were in February,\u201d writes McKenna.\u00a0<\/span><\/p>\n \u201cCompanies and organizations absorbed the economic hit, pivoted to remote work and quickly resumed hiring,\u201d he states.<\/p>\n During the pandemic, the Canadian economy shed 270,750 jobs from February through to October.\u00a0<\/span><\/p>\n In the knowledge economy, though, all of the jobs initially lost during the lockdowns earlier in the year had come back by October \u2013 and the sector had even grown.\u00a0<\/span><\/p>\n \u201cEmployment in STEM occupations was 8.7 percentage points higher in October than it was in February, a net gain of 98,500 jobs,\u201d writes McKenna. \u201cSTEM-related employment has also bounced back for workers such as lab technicians and nurses. Employment rose 1.7 percentage points in that sector between February and October, a gain of 61,750 jobs.\u201d<\/p>\n Outside the tech sector, things are much bleaker for job hunters. Employment in non-STEM jobs is down 3.2 per cent.<\/p>\n A big trend accelerated by the pandemic is the move towards having employees work remotely.\u00a0<\/span><\/p>\n \u201cMany large tech companies now acknowledge that many employees may never return to the office, even after the pandemic,\u201d writes McKenna. \u201cAt Google, for example, most employees will be working from home until at least the summer of 2021.<\/p>\n \u201cMany other companies, such as Twitter and Slack, are letting employees work from home permanently.\u201d<\/p>\n Canada is also gaining ground in attracting immigrants over the United States, one of its traditional rivals for highly-skilled immigrants in the tech sector.<\/p>\n \u201cThe appeal of the United States isn\u2019t what it was,\u201d states McKenna. \u201cThe high cost of living, congestion, political division, tighter immigration rules, even environmental factors such as wildfires are all conspiring to make that country less attractive to young tech workers.\u201d<\/p>\n Last year, Ottawa decided to make the Global Talent Stream (GTS) a permanent fixture on the Canada immigration<\/span><\/a> landscape.<\/p>\n \u201cA permanent Global Talent Stream will give Canadian businesses expedited, predictable access to top global talent when Canadian workers are unavailable,\u201d the Canadian government stated during that announcement.<\/p>\n The program was launched on June 12, 2017, with Quebec unveiling its version of the program on Sept. 11 three years ago. The GTS forms part of the Temporary Foreign Worker Program<\/span><\/a>.<\/p>\n A key element of the GTS is that registered employers need to commit to creating jobs for Canadians and transferring knowledge to Canadian workers, under a Labour Market Benefits Plan.<\/p>\n
\n
\nCanada Among Friendliest Places in World for Immigrants: Report<\/a>
\nCanada to Make Global Talent Stream Permanent<\/a><\/span><\/p>\n
\n