Full-time employment growth in Canada driven by gains in Ontario
London, January 14, 2020 - The government's plan to build Ontario together is working
- creating more jobs, putting more money in people's pockets and building towards
Statistics Canada announced this morning that employment in Ontario increased by
25,100 in December. In London alone, over 2,000 jobs were added in December. Since
June 2018, employment in Ontario has risen by 296,700.
"We are working to create an environment that attracts investment and encourages
entrepreneurs to grow their businesses and create high-paying, good quality jobs
in Ontario, and we are seeing the results of that," said Vic Fedeli, Minister of
Economic Development, Job Creation and Trade.
Last month, the Ontario Legislature officially passed the Better for People, Smarter
for Business Act, 2019. The Act is part of the government's signature package to
address red tape and modernize regulations to make life easier for people and business.
The legislation will lower the cost of doing business by making it simpler and more
cost-effective to comply with regulations — leading to more jobs, higher wages and
more opportunities for hard-working families.
Throughout 2020, the government is committed to continuing to find ways to reduce
regulatory burden with legislative packages and several new initiatives.
"I am proud to see our government's efforts to create more jobs and build a more
prosperous Ontario resulting in more employment opportunities in the City of London,"
said Jeff Yurek, MPP for Elgin-Middlesex-London. "We will continue working hard
to create and protect well-paying jobs for the people of Ontario."
- Full-time employment growth in Canada driven by gains in Ontario. Employment in
Ontario grew by 243,000 in 2019.
- Overall, Ontario's small businesses will save $2.3 billion in 2020 through actions
the government is taking such as cancelling the cap-and-trade carbon tax, keeping
the minimum wage at $14 per hour, supporting Workplace Safety & Insurance Board
premium reductions and delivering Ontario Corporate Income Tax relief through the
Capital Cost Allowance.
- A number of significant government actions are lowering costs for businesses in
Ontario, allowing them to grow and create jobs, and creating a competitive environment
to attract new investment. It is estimated that Ontario businesses could save $5.4
billion in 2020 through these actions.
- Ontario has cut the small business Corporate Income Tax (CIT) rate by 8.7 per cent
and reduced the rate to 3.2 per cent. Supporting small businesses is part of the
government's plan to attract investment and enable entrepreneurs and risk takers
to grow their businesses and create high-paying, good quality jobs.
- Small businesses have benefited from accelerated write-offs of capital investments
as well as the government's decision to not parallel a federal measure that would
have increased taxes on some small businesses earning passive investment income.
- Ontario has launched the Job Site Challenge to identify shovel-ready mega sites
where automakers or other advanced manufacturer could build a large plant that would
create thousands of direct and supply-chain jobs.
- The government has launched a new Regional Development Program for eastern and southwestern
Ontario. Businesses can get financial support through the Eastern Ontario Development
Fund (EODF) and Southwestern Ontario Development Fund (SWODF) and guided access
to a range of complementary services and supports.
- Ontario will create the Premier's Advisory Council on Competitiveness to work with
business leaders and workers across the province to find ways to improve competitiveness
and report back with actionable recommendations.