The most recent BC Stats report (2015 data) shows British Columbia’s technology sector is strong and growing, with the highest job level ever recorded.
The sector has also achieved new heights in wages and salaries, the number of companies, revenue, GDP, exports and imports.
Workforce – one of the largest in Canada:
- With a 2.9% boost in technology employment, the number of jobs climbed to 101,780, the highest level ever recorded.
- The tech sector employs approximately 4.9% of B.C.’s workforce - more than the mining, oil and gas, and forestry sectors combined.
- The unemployment rate among workers in the natural and applied sciences dropped to 2.6% in 2015, and remained substantially lower than for the economy as a whole (6.6%).
Wages and salaries 75% higher than average:
- Average weekly earnings of technology employees in B.C. are now 75% higher than those of the average B.C. worker.
- Wages and salaries in B.C.’s tech sector climbed 4.5% to $8.4 billion, the highest level ever recorded. This was the fifth consecutive year that total wages and salaries reached a new peak.
- Technology employees earned $1,590 per week, compared to $910 per week for the average B.C. worker. This is also higher than the Canadian average for tech workers, at $1,480.
More companies emerging:
- New technology companies are developing; there was a 1.9% rise in their numbers, for a total of 9,905.
- With $450 million in venture-capital investment, B.C. continues to out-perform all other provinces in venture capital investment per capita.
- B.C. post-secondary graduates from technology disciplines continue to work in related fields and earn more, on average, relative to those working in non-tech occupations.
- Graduates employed in tech occupations are more likely to be employed full-time than those in non-tech occupations.
- The number of patents granted resulting from B.C. research rose 34% from 164 (2013) to 220 (2014).
- The University of British Columbia (UBC) continues to rank second in the country for patents.
- With a gross income of over $7 million from technology licences, UBC was ahead of all but one of the country’s other top research universities in technology licensing.
Economic activity – B.C. tech outpacing the provincial economy:
- Technology accounted for approximately 7% of British Columbia’s overall economic output.
- Revenues in the tech sector were approximately $26.3 billion, and have significantly outpaced overall Canadian growth over the last decade.
- There was a 20.4% jump in the value of B.C.’s technology commodity exports, to almost $1.4 billion.
- The gross domestic product of B.C.’s tech sector expanded 2.4%, contributing $14.1 billion to B.C.’s overall economic output.
Government Communications and Public EngagementMinistry of Technology, Innovation and Citizens’ Services