Government Continues Focus on Job Creation and the Economy
Employment in Ontario increased by 28,800 in January — bolstered by gains in manufacturing, finance, insurance, real estate, rental and leasing, and accommodation and food services sectors.
The majority of these net new jobs are in the private sector. Ontario’s unemployment rate was 6.4 per cent in January, and has been lower than the national average for 22 months in a row.
Ontario’s economy is growing and is expected to remain one of the fastest-growing in Canada over the next two years. According to the Economic Accounts, the province’s real GDP (gross domestic product) grew 0.7 per cent in the third quarter (July to September) of 2016, slightly stronger than the average of all G7 countries. Over the first three quarters of 2016, Ontario’s real GDP growth has outpaced that of Canada’s and all other G7 countries.
The province is focused on ensuring everyone is able to benefit from and contribute to that growth. People are feeling insecure in a changing economy, and the government is committed to working with all regions of the province to help create jobs and prosperity.
Supporting Ontario’s workforce is part of our plan to create jobs, grow our economy and help people in their everyday lives. |
QUICK FACTS
- Employment growth has occurred in many economic regions across the province, including Muskoka-Kawarthas (19.9 per cent) and Kingston-Pembroke (13.8 per cent).
- Ontario retail sales increased 0.5 per cent in November, the third consecutive monthly advance.
- Ontario new motor vehicle sales rose 9.5 per cent in November, the fourth consecutive monthly increase.
- Since 2013, the Southwestern Ontario Development Fund and Eastern Ontario Development Fund have helped support more than 36,500 jobs and attracted over $1.73 billion in investment in communities across the province.
- Ontario is on track to balance the budget in 2017–18 and remain balanced in 2018–19.
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QUOTES
“Our government is working hard to build upon the gains we’ve already seen early in this year, but there is more to do. We are working hard to continue the positive momentum by creating an economic environment that allows the private sector to create the good jobs that are the backbone of future economic growth.”
— Brad Duguid, Minister of Economic Development and Growth
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