The future continues to look bright for Ontario businesses and job seekers alike as the province’s economic improvement plan unfolds. The month of March saw 2,000 new jobs added in Ontario, bringing the total increase in employment since June 2009 to 524,500. This impressive rate of recovery has outpaced that of the United States.
Provincial unemployment decreased from 9.6 percent in June 2009 to 6.9 percent in March of this year. Of new jobs added, 89 percent have been full-time positions and 71 percent have been in the private sector.
Development Funds Benefit You
The Southwest Ontario and Eastern Ontario Development Funds have attracted more than $1.3 billion in funding and helped create and retain more than 31,000 jobs in the province. The Southwest Ontario fund has leveraged nearly $44 million in the aerospace, advanced manufacturing and food processing sectors, securing more than 1,400 jobs in March.
- These funds support projects that create jobs, encourage innovation, and attract private sector investment.
- Both business and regional funding are available.
- Eligible business sectors include manufacturing, the life sciences, processing, information and communication technology, tourism, and cultural industries.
As a business leader or as a job seeker, you’re the target to benefit from Ontario’s four-point economic growth plan. The strategy behind the plan is to:
- Invest in people’s talents and skills.
- Enhance the public infrastructure; for example, by building new roads and transit systems.
- Create a supportive environment where businesses can thrive.
- Build a secure savings plan so everyone can afford to retire.
Ontario’s 10-year, $2.5 billion Jobs and Recovery Fund is part of a comprehensive plan to create jobs and bolster the economy. The province continues to accept applications for the Southwest and Eastern Ontario Development Funds from qualified businesses that are growing and creating jobs.
Youth Jobs Strategy
The Youth Employment Fund is a key aspect of Ontario’s Youth Jobs Strategy, which has helped more than 27,000 young workers find job opportunities, develop their professional skills, and gain practical work experience since 2013.
For additional information on employment and business development in Ontario, read our related posts or contact the Employment Professionals Canada team today. We’ll help you stay abreast of current updates, as well as build the workforce you need to achieve your ongoing business goals.