Ontarians outside GTA, Golden Horseshoe still hurting post-2009
Job levels, economic performance are slow to recover from the recession: Fraser Institute.
TORONTO — Decent economic performance – especially job growth – in Toronto and the surrounding Golden Horseshoe region is hiding the fact that the rest of Ontario still hasn’t fully recovered from the 2009 recession, according to a study by the Fraser Institute.
The Canadian public policy think-tank finds total employment in Ontario outside the Greater Golden Horseshoe stood at 2.24 million in 2008. By the end of 2015, the most recent year of available data, that figure stood at 2.17 million, 70,000 jobs shy of pre-recession levels.
While the densely populated area has experienced net job growth since the recession, the rest of the province – which also includes millions of people – is performing poorly. For example, Eastern Ontario (excluding Ottawa) shed 31,000 jobs, dropping from 400,000 in 2008 to 369,000 in 2015.
Northern Ontario – with a larger population than any of P.E.I., Newfoundland or New Brunswick – lost 21,000 jobs, dropping from 367,000 to 346,000.
And Southwestern Ontario, once the heart of the province’s manufacturing sector, remains 20,000 jobs below its pre-recession level of 791,000.
Outside the GGH, only the Ottawa area added jobs – 10,000 since 2008.
Click here for the report.