One of the key economic fundamentals remains strong in the City of Toronto according to a new survey.
The Toronto Employment Survey shows that overall employment grew 3.1% year-over-year in 2019 with 46,920 jobs added to the economy in that time, bringing the total to 1,569,800.
Full-time employment increased by 31,930 jobs (2.8%) year-over-year to 1,178,940 jobs, while part-time employment increased by 14,980 jobs (4.0%) to 390,850 accounting for approximately one quarter of Toronto’s employment.
Office-based jobs account for almost half of overall jobs followed by Institutional (17.4%), Service (12.6%), Retail (9.8%), Manufacturing (8.7%) and Community & Entertainment (3.6%).
“I’m proud that our latest Toronto Employment Survey results provide further proof of our city’s ongoing success. We are the fastest growing city in North America,” said Mayor John Tory. “People want to live here and they want to work here. Every job is important and I am focused on making sure we continue to grow more businesses here – across all sectors – and that we attract more businesses to locate here to create more jobs.
Tech sector gains
An additional analysis of the reveals that it added 60,408 jobs, 16.6% more than in 2018. The 1,729 tech establishments in the city was an increase of 15.5% from 2018.
“It’s no secret that a key feature of Toronto’s economy in the 21st century has been the rise of our technology sector,” added the Mayor. “The survey results reinforce this growth – with the total number of tech businesses almost doubling over the past five years and an incredible 85% increase in the tech sector over the same time period.”
Steve Randall has more than three decades of media experience encompassing online, newspapers, magazines, radio, and podcasts. He focuses on insights and news for professionals in finance, real estate, and legal services. Steve writes for multiple Key Media titles in Canada, United States, Australia, and New Zealand.
