Community Knowledge Centre - Toronto Community Foundation

Impact on Toronto:

After five years of steady job growth, Toronto is feeling the impact of the recession with a sudden rise in unemployment rates and demand for employment insurance benefits. The city’s youth are particularly hard hit.

Why it matters:

Strong and vibrant cities provide a wide variety of opportunities for secure, well-paid work. Safe, accessible, well-paying jobs will help attract and retain the talent pool we need for our future.
• Toronto’s unemployment rate rose by 37% between July 2008 and July 2009.
• 42,680 Torontonians received Employment Insurance between May 2008 and May 2009, an 88% increase.
• Youth unemployment rate was over 20% in June 2009, up 5% in just one year.
• Median employment income for Toronto families in 2006 was $51,200, more than $10,000 lower than Ontario families.