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
Have your say
The one luxury that I would pay extra for when looking for a home:
Thanks for being one of the first people to vote. Results will be available soon. Check for results
- An indoor swimming pool or hot tub
- Heated bathroom floors (no more cold feet!)
- A heated driveway … No more shovelling!
- A home cinema room
Since the age of five, Christian von Koenigsegg knew he wanted to create the world's fastest car. On the floor of the New York International Auto Show,... More Since the age of five, Christian von Koenigsegg knew he wanted to create the world's fastest car. On the floor of the New York International Auto Show, he tells the BBC how he did it.
Date 6 hrs ago, Duration 2:59, Views 121