Canada: 113,700 jobs added in Ontario since this time last year
Ottawa, Mar 10 (IBNS): Ontario's addition of approximately 113,700 jobs since this time last year has resulted in its employment increase by 15,700 jobs in February, media reports said.
The unemployment rate, however, remained unchanged reportedly at 5.5 percent.
Ontario's economy has reportedly grown steadily, more than Canada's and all of the other G7 countries, comprising of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States, since 2014.
This increase in employment reportedly was due mainly to monthly gains in the transportation and warehousing and educational services sectors.
The regions across the province which witnessed employment growth year-over-year reportedly include Stratford-Bruce Peninsula (4.3 percent), Toronto (4.0 percent) and Hamilton-Niagara Peninsula (3.0 percent).
A forecast by private-sector disclosed Ontario's real Gross Domestic Product (GDP) increased on average by 2.8 percent in 2017.
Ontario’s Business Growth Initiative has reportedly committed more than $650 million to grow the economy and create jobs for five years by helping small companies' growth, by promoting an innovation-based economy and making up-to-date and modern regulations for businesses.
But according to official reports, more must be done by government to ensure that the benefits of a growing economy are shared fairly across the province.
“Our government is working hard to build upon the strong employment growth we’ve seen, and we know we can do more. We will continue to work hard to capitalize on the positive momentum by creating an economic environment that allows the private sector to create the good jobs that are the backbone of future economic growth,” Steven Del Duca, Ontario Minister of Economic Development and Growth said.
Ontario in its proposed plan for creation of fairness and opportunity during this economic change includes a higher minimum wage, better working conditions, free tuition for reportedly hundreds of thousands of students, affordable and easily accessible child care, and free prescription drugs for everyone under 25.
(Reporting by Asha Bajaj)
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