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Blog: Ontario's Unemployment Rate Lowest in 16 Years

 

This morning, new data from Statistics Canada shows us that Ontario unemployment has reached its lowest rate in 16 years. This is great news for Burlington and great news for Ontario.

While numbers fluctuate month to month, we’ve seen a steady decline in unemployment since the recession as jobs have flooded into Ontario. We know that good job opportunities are important, not only to help us meet material needs, but to give us a sense of value and purpose.

Today’s good news doesn’t happen by accident. It’s the result of years of steady leadership and the strength of our educated, highly-skilled workforce. Ontario has a balanced budget, a vibrant innovation ecosystem and a competitive corporate tax rate that drives jobs and investments.

And we’re committed to continuing to work with you, our talented, hardworking people, to ensure we’re as competitive as possible and can attract good jobs. We’ve had job growth 7 of the last 9 months in Ontario and added nearly 100,000 jobs in that span. We’ve added nearly 700,000 net new jobs since the recession, the vast majority of which are full-time, above-average wage and in the private sector.

Right here in Burlington, strategic investments in the agri-food sector have helped generate jobs, with a $1.7 million Jobs and Prosperity Fund investment supporting the local expansion of Ippolito’s fresh produce operations. This investment will help create and retain 332 jobs.

Our economy is growing. Over the last three years, we led the entire G7 in growth. And BMO has predicted that this strong trend will continue as economic conditions are, “are about as good as they can possibly be right now.”

We’re working to build on this growth, particularly in the context of today’s highly competitive, international climate. That’s why you’re seeing Premier Wynne engage our U.S. counterparts, ensuring the mutual benefits of a strong trading relationship are known and understood. And we’re committed to remaining competitive in the face of shifting international investment dynamics by keeping our corporate taxes low.

We also have work to do to ensure that this growth is inclusive, and that everybody benefits. All governments do. That’s why we’re making important investments in healthcare, education and affordability.

But today’s news is good for Ontarians and shows that investors are looking here to build. I’m so proud of the Burlington residents and organizations who have contributed to Ontario’s position of strength and look forward to working with every one of you to ensure we build on this progress and that nobody is left behind.

 

—Eleanor McMahon, Burlington MPP

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