shockedcanadian
Diamond Member
- Aug 6, 2012
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Ontarios police state is driving the nation into the economic abyss. The collapse is far closer than most Canadians realize. You follow Canadas approach at your own peril...https://www.theglobeandmail.com/opinion/article-ontarios-wounded-economy-is-dragging-down-canadas-growth/
Although Ontario continues to dominate the financial services industry, the sector is in steady decline, relative to other financial sectors. Toronto currently ranks 23rd in the Global Financial Centres Index, down from 13th place in 2009.
But it’s in manufacturing where the real trouble lies. About half of Canada’s manufacturing jobs are located in Ontario. Although there have been years of gains and losses, overall more than 200,000 manufacturing jobs have disappeared in this century. Manufacturing, which once accounted for 18 per cent of Ontario’s economy, now accounts for only 11 per cent.
The result: Ontario now endures an unemployment rate above the national average: 7.9 per cent in May, versus 7.0 per cent nationally. And Ontario’s GDP growth consistently lags behind the national average, growing 1.2 per cent in 2024, compared to the national average of 1.6 per cent.
Although Ontario continues to dominate the financial services industry, the sector is in steady decline, relative to other financial sectors. Toronto currently ranks 23rd in the Global Financial Centres Index, down from 13th place in 2009.
But it’s in manufacturing where the real trouble lies. About half of Canada’s manufacturing jobs are located in Ontario. Although there have been years of gains and losses, overall more than 200,000 manufacturing jobs have disappeared in this century. Manufacturing, which once accounted for 18 per cent of Ontario’s economy, now accounts for only 11 per cent.
The result: Ontario now endures an unemployment rate above the national average: 7.9 per cent in May, versus 7.0 per cent nationally. And Ontario’s GDP growth consistently lags behind the national average, growing 1.2 per cent in 2024, compared to the national average of 1.6 per cent.
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