That Toronto is Canada's hottest economy, as per CIBC's measure, is great, but there's a sceptic here at MSN. Despite receiving high praise from the bank, Canada's most populous city seems to simply be growing too fast for its own good. Year-over-year, as of Q3 2011, Toronto's population has increased by some two per cent, the third-highest mark in the country. During that same time, however, employment in Toronto only grew by about one per cent. Similarly, non-residential building permits, a measure that indicates how many new businesses are coming to a city, actually decreased as a percentage in Toronto year-over-year in Q3 2011, suggesting there's going to be a lot of new people to the Big Smoke without anywhere to work. Add it all up and Toronto's unemployment rate, already the third-highest of all cities surveyed by CIBC, might just grow the next time this report is released.
* Bing: How to find work in Canada
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Sept. 21 (Bloomberg) - Bloomberg’s Stephanie Ruhle reports that the Centers for Disease Control in Washington warned of the possibility of Ebola virus ... More Sept. 21 (Bloomberg) - Bloomberg’s Stephanie Ruhle reports that the Centers for Disease Control in Washington warned of the possibility of Ebola virus cases escalating to 1.4 million in Sierra Leone and Liberia by January 2015. She speaks on “Market Makers.”
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