Ontario’s economy continues to perform strongly, adding 25,500 jobs in July. There was an increase of 17,600 full-time jobs and 7,900 part-time jobs. Employment in Ontario is up 137,900 jobs, year over year. The province’s unemployment rate has been below the national average for 28 consecutive months.
The employment increase was led by gains in the information, culture and recreation, wholesale and retail trade and business, building and other support services sectors.
Increased business investment and consumer spending were the primary drivers behind the overall GDP increase. Business investment grew 5.5 per cent, with residential construction rising by nearly eight per cent.
Ontario new motor vehicle sales increased 2.5 per cent in May, the fourth increase in five months. On a year‐to‐date basis, Ontario new motor vehicle sales increased 5.3 per cent over the first five months of 2017, compared to the same period in 2016. Employment in 2017 is forecast to increase by 1.3 per cent, or 94,000 net new jobs. In 2016, Ontario employment increased by 1.1 per cent, equaling 76,400 net new jobs.
Photo Credit: Huffington Post