It seems as though everywhere you look, especially over the last five years, news on employment is dire. Traditional sources of work for many seem to be drying up, as sales plunge and technology continues its takeover in virtually every industry. But what is the situation like in Toronto and its neighbouring cities? Employment in Toronto has always been an Ontario franchise; there are just so many people, businesses thrive. But how has the city's employment rate been affected within the current economic climate?
Well, a look at raw numbers alone would suggest it has been the effects of the recession have been particularly adverse in cities like Mississauga and Toronto. Many people who found the best Mississauga condos online just a few years ago have been forced to sell at lower prices, as job and salary cuts have limited their ability to pay. Moreover, many a Toronto architect and developer has found herself without work as there appears to be a moratorium on new buildings due to a lack of market interest.
The fact that some sectors have been hit particularly hard during this recession could account for the spike in unemployment numbers in the city. Currently, the rate is just under 10%, well above the national average of eight percent. However, one needs to compare those numbers to historic job belt statistics in this huge metropolitan area. Unemployment numbers have always been artificially high here, due to a large number of people seeking to avoid taxes, working under the table, and so on. Even people with businesses catering in Toronto Ontario have been known to pay employees quietly during busy times, in order to avoid paperwork.
Compensating for those traditional numbers, we find that unemployment in Toronto is actually below the national average. This should come as no surprise, in an area which boasts the largest employment area in the whole country. The Pearson economic zone includes many different types of businesses, from those which manufacture power distribution blocks to those who sell them, and employs more people than any other area in the country. In fact, there are over 350,000 people working in this one area, which just goes to show how many jobs there really are available in this part of the country.
And that of course is just a small section of Mississauga and Toronto. All those jobs create additional spin off jobs, which can be found in a Hamilton auto body shop and other businesses all over southern Ontario.