From Laggard to Leader (Almost): Northeast showing potential for growth
April 28, 2015 | James Cuddy
This report details how the region is showing potential for growth in the face of several challenges, by providing an overview of the underlying trends and characteristics of the labour market. The author covers labour force characteristics including population, employment, participation, unemployment, and trends specific to the youth labour market.
According to the report, Northeastern Ontario is closely tied to the global economy, as changes in job numbers in the region closely correspond to changes in national GDP and the region appears more vulnerable to global market adjustments than the rest of the province or country. Northeastern Ontario also faces a number of challenges including stagnant population growth, uncertain long-term employment growth, low participation rates, continued youth out-migration, and a lack of growth in goods-producing industries.