Ontario Adds 14,000 Jobs in June
Province Focused on Growing the Economy
Employment in Ontario heated up in June with an increase of 14,000 -- bringing the total increase in employment since the recessionary low in June 2009 to 568,100.
The province has experienced employment growth in a number of key sectors so far this year, as the government's economic plan continues to see results. Employment in Finance, Insurance, Real Estate and Leasing (30,900), Professional, Scientific and Technical Services (29,600) and Construction (21,300) sectors has increased so far this year.
Other positive economic news include Ontario new motor vehicle sales, which on a year-to-date basis, were up 5.4 per cent over the first four months of 2015, compared to the same period in 2014. The auto sector represents an important part of Ontario's economy, contributing billions of dollars to our GDP and employing hundreds of thousands of people.
The upcoming Pan Am/Parapan Am Games will also play a key role in creating employment opportunities across the province. It is estimated that the Games and Games-related investments will create more than 26,000 jobs and generate $3.7 billion for Ontario's GDP by 2017.
Creating jobs and opportunities is part of the government's plan to build Ontario up. The four-part plan includes investing in people's talents and skills, making the largest investment in public infrastructure in Ontario's history, creating a dynamic, innovative environment where business thrives, and building a secure retirement savings plan.
- According to a Conference Board of Canada report, Ontario’s forecasted real GDP growth in 2015 is 2.5 per cent; above their forecasted national average of 1.6 per cent.
- RBC’s Manufacturing Purchasing Managers’ Index signals strengthening conditions in manufacturing. The index in Ontario increased to a seven-month high of 57.0 in June from 55.5 in May. According to the RBC, business conditions improved markedly in Ontario, with the province likely benefitting from a rise in exports.
- Over the next three months, 1 in 5 Ontario small businesses are expecting to add full-time staff according to the Canadian Federation of Independent Business.
- On a year-to-date basis, Ontario retail sales were up 3.9 per cent over the first four months of 2015, compared to the same period in 2014.
- On a year-to-date basis, Ontario wholesale trade was up 7.6 per cent over the first four months of 2015, compared to the same period in 2014.
“I am pleased that Ontario’s economy remains strong in a number of key sectors across the province. In these global times of uncertainty, our government remains committed to creating the right business climate to continue attracting investment, creating jobs, and growing our economy. I look forward to the economic activity that will be generated from the Pan Am Games this summer, and to local communities being strengthened as a result.”