Employment in the Toronto Census area increased by 2.2% in July. This was the same rate of increase as the province, despite the loosening of the COVID-19 restrictions occurring later in Toronto than in most other regions in the province. Employment in Toronto has reached 89.9% of its February 2020 level.
In June, according to the latest release from Statistics Canada’s Labour Force Survey, Toronto CMA reclaimed almost 200,000 jobs which were lost due to the coronavirus pandemic.
Overall job postings for the period of May 30 to June 12th remained relatively static and have plateaued since late May. Postings are averaging between 2,200 and 2,500 per week.
According to Stats Canada’s May Labour Force Survey (LFS), Toronto CMA has now lost over 500 thousand jobs in the last three months since the COVID-19 pandemic was declared.
After two months of steep declines in total on-line job postings, data collected over the past two weeks suggest that there is reason to be cautiously optimistic about the Toronto job market.
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.