Canada’s tech workforce is expanding and showing no sign of slowing down. As Canadian tech accelerates at a rapid rate, Waterloo keeps pace with ecosystem leaders across the country.
In a recently released analysis, CompTIA reported that Canada’s tech workforce increased by 1.9% in 2024 to reach an estimated 1.44M workers. In comparison, the United States’ net tech employment decreased by 0.1%, with 5,610 fewer workers employed in technology. Talk about a dominating performance by Canadian tech.
The report, titled “State of the Tech Workforce Canada 2025,” forecasts that Canada’s tech workforce will grow by 1.4% in 2025. That means our tech workforce is expected to reach 1.46M by the end of the year.
Since 2019, tech employment in Canada has been steadily increasing (if you don’t count the predictable outlier, 2020). And our tech talent ecosystem shows no signs of slowing down. CompTIA reports that in the next five years, the tech workforce will grow 1.77x as fast as the overall Canadian workforce.
With these numbers, it’s no surprise that the tech industry in Canada accounts for nearly 6% of direct economic value, highlighting the impressive output of Canadian tech on national economic impact.
How does Waterloo fit into Canada’s tech success?
Ontario, Waterloo’s home province, leads the charge
Ontario is the catalyst behind Canada’s impressive tech talent growth. Out of all the provinces, the greatest number of jobs is expected to be added in Ontario in 2025. In fact, 47.8% of Canada’s projected net tech employment comes from Ontario. With the Toronto-Waterloo Corridor anchoring the country’s tech ecosystem, it’s no surprise that Ontario has the strongest workforce.
At approximately 8%, Ontario has the highest concentration of net tech employment as a percentage of its overall workforce in Canada. This means that 8% of Ontario’s workforce is employed in technology. Net tech employment refers to professionals working in technical positions in technology companies and other non-tech-related industries, as well as business professionals employed by technology companies.
Perhaps you’re wondering how our province fares in an international competition, beyond the Canadian context. Let’s take Silicon Valley and New York City’s home states. In comparison, California’s net employment as a percentage of overall workforce is 7.5%, while New York’s is 5.7%.
While Toronto earns the direct shoutout in CompTIA’s report, the Waterloo area is integral to Ontario’s success. With our own robust tech ecosystem, Waterloo is a powerhouse when it comes to tech talent. If you want to take advantage of Canada’s tech workforce, Waterloo is the place to be.
Waterloo’s talent advantage
With the highest quantity and quality of tech talent in Canada (and North America), the Waterloo region is the ideal location for any tech company looking to tap into Canada’s expansive tech workforce.
Waterloo is home to:
- 29,000+ tech workers
- The #1 fastest-growing millennial and new graduate populations in North America
- 109,000+ students enrolled in globally recognized post-secondary institutions like the University of Waterloo, Wilfrid Laurier University and Conestoga College
- World-renowned research centres, like Perimeter Institute
- Canada’s leading public-private innovation hub, Communitech, and Canada’s most productive early-stage incubator, Velocity
Big or small, tech companies can thrive in Waterloo’s fast-paced tech ecosystem.
Waterloo is fueling the next generation of growth in Canada’s tech ecosystem. There is room here for your success.