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BMO Robert Kavcic, Shelly Kaushik February 10th, 2021 Ontario's economy contracted an estimated 5. 6% in 2020, similar to the 5. 4% decline expected nationally. The province's high COVID case count is actually lower than the national average in per capita terms, with almost 1, 900 cumulative cases per 100k people (vs. a national average of over 2, 100). Nevertheless, broad-based and lingering restrictions have affected the provincial economy, particularly in Toronto and surrounding areas. Due to its high concentration of cases, the Greater Toronto Area lagged most of the rest of the province's summertime reopening and was among the first regions to return to stronger restrictions in the fall. This is a major reason why we judge the city's economic decline to be deeper than the province's overall for the year. At the same time, a population outflow is underway to less dense and more rural locations, given the nature of the pandemic. As the pandemic passes, some of this shift will likely remain permanent, but we believe that Toronto will re-emerge as an attractive destination, even if there is some necessary repurposing and repricing of commercial real estate.
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Table 1 - Economic Outlook - Ontario Toronto's labour market has also been slower to recover—the city's unemployment rate averaged 10. 7% in the three months ending in December, significantly higher than the provincial (9. 5%) and national (8. 8%) averages. The good news is that the city ended the year with 80% of the jobs lost at the worst point of the pandemic recovered, but prolonged lockdowns likely eroded some of those gains in the new year. As Canada's largest city, Toronto's economy has a relatively high concentration in sectors more severely impacted by the pandemic. The labour market is heavily service-oriented (over 80% of jobs), with wholesale and retail trade (16%) and professional, technological, and scientific services (13%) among key employment drivers. That said, these services are relatively isolated from the effects of the pandemic; in fact, both sectors combined to add a net 45k jobs since February. Plus, the concentration of high-skilled technological jobs in Toronto and surrounding areas will continue to benefit the regional economy as working from home becomes more common beyond the pandemic.
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On August 10, 2019 in Kiev (Ukraine), August 12, 2019 in Warsaw (Poland) and August 14, 2019 in Amsterdam (Netherlands) several Canadian companies from the province of New Brunswick will be on location recruiting truck drivers directly for long term employment and providing immigration support. The applicants who will receive job offers may be eligible to apply for permanent residency through the Atlantic Immigration Pilot or the Provincial Nominee Program. Requirements: • Language exams, i. e. IELTS General Training with a level 4. 0 • Educational credential assessment (ECA) • Proof of work experience obtained during last 5 years (make sure you prepare letter of references, tax documents, pay stubs) • Sufficient liquid settlement funds ($3, 118 – $8, 253 CAD, depends on size of a family) For more information please contact us at or use contact form on the company's website