According to the latest from Stats Canada, Ottawa-Gatineau tech jobs have hit a new five-year low:
The technology sector bled another 800 jobs, dropping to 46,900, a new five-year low.
Layoffs at Nortel Networks and other companies have eliminated 6,800 jobs in 12 months.
|District of Columbia
Ref: Is Your State’s Unemployment System in Danger?
Latest unemployment numbers today:
Other interesting lists:
Survey results from the Canadian Federation of Independent Business showed some improving outlooks among small business owners polled:
- 38% considered the condition of their business to be “good”, 18% “bad”, and 44% “satisfactory
- 18% of businesses were planning to add staff
- 16% of businesses were planning to reduce staff
- Top five business cost concerns: tax, regulatory costs; fuel, energy costs, wage costs; bank account and processing fees; and insurance costs.
- Top three business constraints: insufficient domestic demand; shortage of working capital; and shortage of skilled labor
- Business Barometer index rose to 60.4% (well below historical norms, but up since last survey)
According to a USA Today article, 41% of economists surveyed in April predict the unemployment rate will top out at 10% or higher. 58% of the economists surveyed said the economy will weaken in the next six months.
The Ottawa-Gatineau unemployment rate took a sharp jump recently and currently sits at 5.2%.
Under the surface, the situation for tech jobs is increasingly serious.
In Ottawa-Gatineau technology jobs have been evaporating at an alarming rate – in just the last 12 months, the region has lost 8,800 tech jobs. This represents greater then a 14% loss. Further, Ottawa-Gatineau has lost almost 30% of its regional tech jobs compared to 2000. Ottawa-Gatineau tech jobs peaked at 74,000 in 2000 and are now down to 53, 800 as of March 2009.
Stats Canada has published that during the 2002 bubble burst – 4 out of 5 laid off tech workers did not find work in high tech, and 2 of 5 left the City of Ottawa.
The tech sector is continuing to shed jobs in Ottawa-Gatineau.
Ottawa-Gatineau faces a significant loss of tech capability and associated economic impact/growth for the region.
Lead to Win is focused on launching new technology businesses in Ottawa-Gatineau to retain and create new tech jobs. If you are concerned about the state of the technology sector in Ottawa-Gatineau or are interested in launching a new tech business in the region, you are encouraged to visit http://www.leadtowin.ca.