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Ontario Creates 43,500 New Jobs and Unemployment Rate Declines to a Record Low

December 2017, 02
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Employment in Ontario witnessed an increase of 43,500 jobs in November and its unemployment rate declined to 5.5 percent. It was the fifth month when job gains were registered.

In the past year, employment increased in Ontario by 180,800 jobs. Its unemployment rate is below the national average for 32 months consecutively. Ontario has at present created 800,000 new jobs since Canada faced the recession.

The Ontario Economic Outlook and Fiscal Review 2017, says that Ontario is estimating a growth of 2.8 percent in real GDP during 2017, which exceeds projections made earlier.  The economy in Ontario grew faster, for the past three years, than overall growth in Canada, and also of other G7 nations.

Ontario has created a fair policy, marked with opportunities, during this period of economic change, and has provided; better working conditions, and high minimum wages.  Besides, there is free tuition for thousands of students, expanded Medicare through easy access to reasonable child care, and free prescription of drugs, for people below 25 years of age.

Facts

25,300 full-time jobs and 18,200 part-time jobs were added in Ontario in November.

Employment growth happened in many economic regions of the province, and the yearly increase registered was 4.9 percent in Northwest Ontario, 3.8 percent in Stratford-Bruce Peninsula, and 3.9 percent in Kitchener-Waterloo-Barrie.

The employment increase was marked in the sectors like manufacturing areas, wholesale and retail trade, and educational services. The present unemployment rate is 5.5 percent.

The Business Growth Initiative of Ontario is a commitment of more than $650 million, to grow the economy in the next five-years. It aims to create jobs, through promoting an economy, based on innovation, providing help to small companies, and also by the modernization of business regulations.

After the recession, the economy of Ontario has increased because of momentum gained, by using the talent and hard work of the people and businesses. The government will support a dynamic business climate, to make the economy competitive, and promote fairness and better opportunities for all.

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