Before moving to a new city, it's important to get an accurate picture of the economic situation you will become a part of. Will it be difficult to find a job? What are the economic sectors that are likely to have job openings? Will your training help you get a job as a chiropractor in Etobicoke or will you have to open your own practice? These are important questions to ask before making your decision. Get the real facts rather than just the national perception that Toronto is the be all and end all of employment. Get the statistics. Do your research.
Labor Force
Though Toronto does have a lot of jobs, Toronto also has a huge population. In the Toronto area alone you will be joining more that 2.2 million people over 15 who will be your competitors in your job search. Though approximately 750,000 of them have taken themselves out of the race (to raise kids, retire, keep the home, etc) there still aren't enough Oakville airport limo driving gigs for everyone. If you expand that picture to the whole Greater Toronto Area, the number of people within the working age bracket jumps to nearly 4.7 million.
Unemployment
No matter how good the employment prospects of a city are, they are never perfect. There will always be people who are unemployed, and not just because they can't be bothered to serve coffee at the Avaya IP office or actually try to find a job. Nearly 10% of Torontonians are currently out of work, so you need to consider the possibility that you could become one of them. Compared to the provincial unemployment average of just over 9%, and the national average of 8.7%, Toronto does not come off favorably.
Top Industries
To avoid ending up in that unlucky 10%, don't arrive in Toronto without a marketable skill. Over 80% of the city works in the service industry, this includes low paying positions in fast food serving and high paying positions trying class actions in Canada. Most of these high powered gigs fall under the Business Services (what is now called Professional and Scientific Services) umbrella, so the most you'll be able to get without training or experience is a job in food service, retail, or tourism. Other large sectors include health care, education, and finance.
Future Prospects
Toronto was once a powerhouse in manufacturing but with the paradigm shift to automation followed by a second shift toward outsourcing factory jobs this industry is slowly dying. Finance is unlikely to alter given that spread ETFs will always need to be managed. The sectors experiencing the most growth, not just in Toronto but all over North America, are health care and education.
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