CEO ITS Global
Is Canada experiencing a labour shortage?
As a recruitment firm with strong ties to the tech industry, we see that there’s a shortage of available IT talent in Canada. Before COVID, tech hiring depended on immigration. With closed borders, people are not coming into the country, which impacts the tech sector.
Currently, Canada’s unemployment rate is around 8.20%. In comparison, the unemployment rate in technology is 3%. Tech companies can’t find qualified employees and the available high-quality talent comes at a premium.
Over the years, we’ve seen different market cycles. Now, we’re in a candidate-driven market. This will ease up a bit when the borders open, but we won’t see an influx of talent until immigration increases. Companies will need to think of creative ways to find and keep talent.
How quickly do you think the Canadian labour market will bounce back?
We’re living in an interesting time. The truth is that some industries won’t be able to bounce back from a labour standpoint. The service industry, for example, is still in shock. Online buying will not go away so local businesses will need to re-invent themselves through technology and e-commerce.
If readers have questions about the future of work in Canada and around the world, how can they connect with you?
Readers can email me with any questions they may have. I’m passionate about finding companies the right talent and the future of the recruitment industry. There’s been so much change over a short period of time, and we’ve all had to adjust.