Where Will You Find Work in Toronto in 5 Years?

Where Will You Find Work in Toronto in 5 Years?


Source: torontojobs.com

Toronto is ranked as one of the most multicultural cities in the world. With a population of almost 3 million in the city proper and 6 million in the GTA, it pulls in immigrants from all around the world and thrives on the diversity of its population.

Toronto is also the hub of the country for jobs in finance, manufacturing, banking, and information technology, and it’s home to the Toronto Stock Exchange, the most active in the country.

It’s the home of the country’s largest banking and insurance headquarters, and has been named by Forbes magazine as one of the top ten most powerful cities in the world. Toronto is also Canada’s primary city to find work in life sciences. It has nine teaching hospitals and is one of the world’s leading cities for medical research and development.

However, there was an 8.2% unemployment rate in the city in June 2014, reflected mostly by low employment rates in the youth and newcomer sectors. But on the positive side, 11,000 net full-time jobs were created in one year. What does this mean for you, the Toronto job seeker?

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Best and worst of Toronto

Some great things about Toronto include:

  • Great multicultural city, offering huge selection of restaurants, theatres, cultural centres, and religious institutions
  • World-class educational institutions including the University of Toronto and community colleges
  • Large selection of living accommodations, from detached housing to condos to rental apartments
  • Vibrant downtown core

Some not-so-great things?

  • Traffic gridlock
  • Hot, humid summers and cold, windy winters
  • Waterfront area blocked by condos
  • Overcrowded transit system

Toronto’s employment outlook

A report by Toronto’s United Way and Toronto Region Board of Trade, released in October 2014, reports a declining number of jobs in the middle-income sector but an increasing number of employment opportunities in the low- and high-income occupations.

It also finds employment growth in temporary and contract positions. The manufacturing sector will shed the most number of jobs, but scientific and technical services will show a gain.

Youth and newcomer employment prospects are not on the upswing. The report showed a positive correlation for employment when community colleges and other educational institutions integrate work experience in their programs such as co-ops, field placements, and internships. Employers are more likely to hire people who have been through such programs in their companies.

Jobs in Toronto in the next 5 years

So, where will you find the most in-demand jobs in Toronto between 2014 and 2019?

  • Retail sales
  • Financial auditors
  • Accountants
  • Registered nurses
  • Social services positions
  • Food/counter sales
  • Janitors/cleaning staff

There will also be a demand for highly-educated personnel in medical and legal services.

With an aging work population, more jobs are going to become available as baby boomers retire. Because of a worldwide economic downturn, job prospects are not what they once were, but Toronto is still a city where it is possible for you to find the job of your dreams, with determination and the right training.

Susan Pratt has a certificate in journalism and has been published in The Globe and Mail, The Mississauga News, and online on the Alphabird site, plus she has over 15 years of experience in Human Resources.