Advanced sectors will drive post-pandemic recovery
Developed through discussions with stakeholders across the talent ecosystem, the Toronto Region Board of Trade’s (TRBOT) recent report, Unlocking Talent, examines how COVID-19 led to a number of changes in the workplace, including growing labour shortages and a widening skills gap. At the same time, it outlines the opportunities of the region’s Innovation Corridor.
The Greater Toronto Area is North America’s third largest tech hub and its fastest growing labour market for high tech jobs. 25,000 STEM graduates each year add to the foundation of talent in the Innovation Corridor. With half a million alumni in Canada, and approximately 13,000 degrees awarded annually, U of T is an engine of talent creation, with its graduates consistently ranking as the country’s most employable.
To build on these assets, the Board calls on employers, post-secondary institutions, community agencies, unions and all orders of government to work in close collaboration.
The Board puts forth a number of actionable recommendations, including urging ecosystem players like education providers, industry and government to:
- Continue work with employers to develop educational programs that produce industry-ready talent.
- Take action to develop green and digital skills, which are increasingly in-demand.
- Identify ways to build the talent pipeline for advanced sectors like cleantech, biotech and fintech.
The report maintains it is only through a collaborative approach that Ontario can narrow the skills gap, ensure workers have the knowledge and training needed for roles in emerging industries and empower youth, newcomers and underrepresented workers to more fully participate in the labour market.
To learn more, read the TRBOT’s report.