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Ontario Losing Out On As Much As $24.3 billion In Economic Activity And $3.7 Billion In Provincial Tax Revenues Annually Because Employers Cannot Find People With SKILLS


Skills shortages cost Ontario economy billions of dollars annually

Ontario is losing out on as much as $24.3 billion in economic activity and $3.7 billion in provincial tax revenues annually because employers cannot find people with the skills they need to innovate and grow in today’s economy, according to a Conference Board of Canada report released today.

“This is money that could provide substantial economic and social benefits to Ontarians. Closing the skills gap could help the province reduce public debt or invest in much needed infrastructure improvements,” said Michael Bloom, Vice-President, Organizational Effectiveness and Learning. “Consider, for example, that a proposed expansion of public transit in the Greater Toronto-Hamilton Area would require an estimated $2 billion per year, over 25 years, to complete.”

http://finance.yahoo.com/news/skills-shortages-cost-ontario-economy-090000803.html

EASTERN ONTARIO ECONOMIC SUMMIT GATHERS REGIONAL MOMENTUM

An Economic Summit held in Kingston on June 21-22 has gathered momentum behind a regional effort to grow the economy of Eastern Ontario and strengthen its communities, says Eastern Ontario Wardens’ Caucus Chair David Burton.

Entitled “Realizing Our Potential”, more than 120 Summit participants from business, government, institutions and not-for-profit organizations heard presentations by Glen Hodgson, Senior Vice-President and Chief Economist, The Conference Board of Canada, and Ian Howcroft, Vice-President (Ontario Region) Canadian Manufacturers and Exporters, and participated in breakout sessions to take stock of the region’s economy and suggest ways to advance economic activity in the region.

http://www.lennox-addington.on.ca/media-releases/387-eastern-ontario-economic-summit-gathers-regional-momentum.html

Skills shortages cost Ontario economy billions of dollars annually

Ontario is losing out on as much as $24.3 billion in economic activity and $3.7 billion in provincial tax revenues annually because employers cannot find people with the skills they need to innovate and grow in today’s economy, according to a Conference Board of Canada report released today.

“This is money that could provide substantial economic and social benefits to Ontarians. Closing the skills gap could help the province reduce public debt or invest in much needed infrastructure improvements,” said Michael Bloom, Vice-President, Organizational Effectiveness and Learning. “Consider, for example, that a proposed expansion of public transit in the Greater Toronto-Hamilton Area would require an estimated $2 billion per year, over 25 years, to complete.”

https://www.redliontrader.com/skills-shortages-cost-ontario-economy-billions-of-dollars-annually/

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  • Mike

    “Skills shortages” in Ontario? Hmmmm…Sounds more like cheap government propaganda…What shortages, when most foreign trained doctors, engineers(I’m one of them myself) and economists are unemployed and desperately looking for a decent job or work jobs way under their qualifications or jobs that have nothing to do with their background in education?
    So, no worries about skills shortages in Ontario, it’s just Canadian bureaucracy and business interests trying to pay less for skilled, qualified work in order to make bigger profits for a few…Canada is no better than the rest of the “developed” world, where an all-out war is staged against the middle and working class…