Ontario Economy Grows by 37,000 Jobs in October
Friday, November 7, 2014
Media Release: Ministry of Economic Development, Employment and Infrastructure
Province Supports Jobs, Opportunities and a Stronger Economy
Ontario's economy continues to grow, gaining 37,000 net new jobs in October, including an increase of 33,700 full-time jobs. The province's youth (ages 15-24) employment increased by 6,300.
With October's gains, employment in Ontario has increased by 551,300 since June 2009 -- 93.1 per cent of which are full-time and 71.3 per cent in the private sector. Ontario's unemployment rate has declined from a recessionary high of 9.4 per cent in June 2009 to 6.5 per cent in October.
Ontario's recent actions to foster opportunities and create jobs include Premier Wynne's trade mission to China, which attracted $966 million in new investment and will create 1,800 jobs in communities across the province, and the government's recently announced partnership with Honda Canada, which will make Alliston one of the most innovative plants in North America and protect 4,000 jobs.
Fostering opportunities and creating jobs are part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, supportive environment where business thrives and building a secure savings plan so everyone can afford to retire.
- Ontario’s Youth Jobs Strategy is creating job opportunities for about 30,000 youth. It has already created internships and job placements for more than 20,000 youth in the province.
- Ontario’s new 10-year, $2.5 billion Jobs and Prosperity Fund is part of a comprehensive plan for creating jobs and growing the economy.
- The Southwestern and Eastern Ontario Development Funds have attracted more than $1.25 billion in investment and have helped to create and retain more than 29,000 jobs in Ontario communities.
- Ontario was the number one jurisdiction in North America for foreign direct investment based on capital expenditure in 2013.