Employment Continues to Show Strength

Employment Continues to Show Strength

Toronto’s labour market continued to show signs of resilience and strength during July.  Toronto’s rate of unemployment remained stable as it rose slightly to 6.1 percent.  The participation rate (those working or actively looking for work) remained at 68 percent, well above pre-pandemic levels.  Economists note that an increase in the number of people participating in the labour force has positive impact on the overall economy. 

Labour Market Update – Toronto

Employment Numbers In Toronto Chart

The latest Labour Force Survey (LFS) numbers are staggering but not as bad as economist’s have predicted. Employment losses related to COVID 19 and government-imposed business closures designed to slow it, cost Toronto Region over half a million jobs.

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