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Regional Job Market Update for Montreal, Quebec

David O'Brien By David O’Brien,
Vice President, East Region & Government Services at Eagle

After some sluggish months for the Canadian economy, April saw record numbers of jobs created not seen since 1976 with 106,000 new jobs, far exceeding economists’ expectations. Canada added over 426,000 jobs in the last 12 months and though many had forecast an imminent recession, it now appears that may not be in the cards. Perhaps more indicative of a better economy is a stronger wage growth component of 2.5% increase. Perhaps salaries are finally catching up with the increase in jobs and we’re seeing the effects of an overall tightening labour market.

Panoramic Photo Montreal city fron Mount RoyalAs we look at the Quebec Employment numbers, we confirm what we have seen both operationally and practically in the market. Quebec continues its run of strong labour numbers with the second lowest unemployment rate in the country (second only to BC provincially) and, at 4.9%, it’s over a full point lower than neighboring Ontario. Montreal continues to have a lower rate of unemployment than Toronto. Drilling down further, we know that the National rate of unemployment for technology hovers at less than half the broader rate, at slightly above 2%. However, in Technology Urban Centres like Montreal with a burgeoning Video game sector, AI sector and Financial sector it is likely very close to 0% which is what we at Eagle are currently seeing play out in the marketplace.

Canada has bet big on AI with centres in Toronto and Edmonton but Montreal also has a thriving and burgeoning AI ecosystem. In addition to the Federal funding in AI investment, the city benefits from a huge Province of Quebec investment, similar to what the Province  invested in attracting big video gaming players to Montreal. Swedish giant Ericsson, French Tech Consultancy Axionable and Samsung are just some the global giants to have recently opened AI accelerator/Labs in the city of Montreal. In addition to Montreal already being a North American gaming hub, clearly it is becoming an AI hub as well. Over the past couple of years, global behemoths Google, Facebook and Microsoft have set up shop in Montreal in the hopes of taking advantage of the much sought after talent developed as a result of these new thriving hubs and tech ecosysytems.

Traditional sectors such as Telecom, Financial Services and Aerospace who are already fighting to attract the talent they need now have to out-hustle these “sexy ” giants of tech industry. Talent in Montreal have multiple options and clients now need to be certain they are quick to hire, have compelling stories to sell, competitive salaries and are working hand-in-hand with their talent partners in what is now a very heated market.

Hot roles in Montreal include Mobile Developers, DevOps/Middleware, BI Specialists, Security Specialists and all things Java.

Regional Job Market Update for Montreal, Quebec

David O'Brien By David O’Brien,
Vice President, East Region & Government Services at Eagle

Panoramic Photo Montreal city fron Mount RoyalRecent data has shown that both the job market and job growth has slowed in Canada’s largest metropolitan centres, including Montreal. While Central Canada, including Quebec, has led the growth in the last year, with the exception of cities like Kitchener and Ottawa in Ontario and Sherbrooke in Quebec, that growth is slowing slightly.

This past year, Quebec, and specifically Montreal, has very much been a positive employment and jobs story in Canada with consistent unemployment rates below the Canadian average due to a strong economy. Underlying all this is a very significant labour shortage, plus an aging population and over 100,000 estimated positions currently going unfilled. In fact, the recent Quebec Provincial election featured the skills shortage and how to address it as a very prominent issue for all the parties.

Nowhere is this more an issue in Quebec than in the technology sector. There are 250,000 tech jobs in Quebec. In Montreal and Quebec City, the tech sector is the third largest private sector employer, behind traditional companies in Financial Services and Telecom. It is led by exciting companies in Artificial Intelligence and Video Game technology. Provincial subsidy programs have targeted job growth in technology and Quebec’s technology sector has essentially been at full employment for a very long time. Montreal is now recognized as one of the top cities in North America for AI talent.

The last several months, we at Eagle have seen a very strong increase in demand for both permanent and contract resources in our Montreal office and there is an almost acute shortage of candidates for most client requirements. Clients are and will continue to adjust to this new reality by speeding up their hiring processes, having more flexibility in their must-have and desirables requirements, and in working with their staffing partners to be sure their value messages to candidates are fresh and attractive.

Some of the most sought after roles in recent months in Montreal include Project Managers, Developers, Tester/QA roles, System Analysts and Business Analysts.