#ontario-economy

#ontario-economy

The data is part of the latest update from the province's Financial Accountability Office (FAO). It highlights Ontario's economic struggles between April and September in the months immediately after U.S. President Donald Trump's tariff policies were imposed. It also delves deeper into the province's shrinking manufacturing sector, which the FAO says has shed approximately 20,600 jobs over the past two years and has been put under increased pressure because of the trade war.

The unemployment rate in Ontario fluctuated between 7.3% and 7.6% in early 2024, indicative of a fragile economy facing significant external pressures.