Strong and vibrant cities provide a wide variety of opportunities for secure, well-paid work.
Why it matters:
Toronto and the surrounding Region’s importance in the national jobs landscape has been growing since the 2008 financial crisis:
- Almost 1in 3 of all jobs created in Canada bet ween 2010 and 2013 were in the Toronto Region.
As of July 2014, the unemployment rate in Toronto was 10.5%:
- After climbing to almost 21% in 2012, the Toronto youth unemployment rate dropped to 17.6% in 2013, but was still above
Amongst immigrants, unemployment was a more likely prospect for recent immigrants (in Canada less than 5 years) in 2013:
- On average, 9% of all immigrants were unemployed in the Region. 14% of those who were recent immigrants were
unemployed, compared to 7% of those here at least 10 years.
- The unemployment rate for Toronto’s recent immigrant youth (ages 15-24) was 27% in 2013, down from a high of 29% in
- Failing to recognize the qualifications and experience of immigrants costs the Region $1.5 billion to $2.25 billion annually
- Toronto's Vital Signs® Report 2014