Data Insights – Halton’s unemployment rate drops in Q1 2024

On April 5, Statistics Canada released the Labour Force Survey data for the first quarter of 2024. The data indicates that Halton’s unemployment rate decreased from 5.3% in Q4 2023 to 4.0% in Q1 2024. This is the second rate decrease since the fall of 2023 and places the unemployment rate in Halton below that of the rest of the Greater Toronto and Hamilton area (GTHA). Halton’s labour force participation rate, meanwhile, decreased marginally to average 68.7% in Q1 2024.

labour-rate-infographic-q1-2024Download

Data Insights – Halton Region 2023 Economic Review

The 2023 Halton Region Economic Review highlights Halton’s economy, labour market, real estate development as well as other key economic indicators over the past year. The Review also provides insight into Halton’s competitiveness within the Greater Toronto and Hamilton Area (GTHA).

In 2023, Halton’s economy benefited from an additional 3,300 jobs and development continued at a strong pace to accommodate Halton’s growing community, with new residential, industrial, and commercial spaces being approved for construction.

Here are some highlights from 2023:

• Total building permit construction value reached its third-highest building permit value in Halton with $2.8 billion approved for development.
• The amount of non-residential total floor area with building permits issued was 3.1 million square feet, with 2.4 million square feet consisting of industrial development.
• Halton ranked the highest in total building value per capita in the GTHA reaching $4,629 per person.
• Halton’s unemployment rate was 5.3 per cent, down from 5.5 per cent in 2022.
• The labour force participation rate was 68.5 per cent, up from 67.4 per cent in 2022.

The 2023 Halton Region Economic Review is available for download on the Invest Halton Resource Library page on halton.ca.

Data Insights – ICI development highlights across Halton during Q4 2023

Industrial, commercial and institutional (ICI) development activity across Halton declined by 54 per cent during the fourth quarter of 2023 over the previous quarter.  Between October and December, $116 million in building permit construction value was issued for ICI developments in Halton, down $251 million from the third quarter of 2023.  In comparison to the same period in 2022, ICI building permit construction value in Halton was 39 per cent lower in the fourth quarter of 2023.

development-infographic-q4-2023Download

Data Insights – Halton’s unemployment rate decreased in 4th quarter

On January 5, Statistics Canada released the Labour Force Survey data for the fourth quarter of 2023. The data indicates that Halton’s unemployment rate decreased from 6.6% in Q3 to 5.3% in Q4 2023. Meanwhile, Halton’s labour force participation rate rose 2.2 percentage points over the previous quarter, averaging 69.0% in Q4 2023.

labour-rate-infographic-q4-2023Download

Starter Company Plus – Grant Winners

Meet our Starter Company Plus Grant Winners!

In October 2023, the Halton Small Business Centre kicked off its fall 2023 cohort of the Starter Company Plus program. The program supports aspiring entrepreneurs looking to launch or build their small businesses in Halton. The program provides training, mentoring, and an opportunity to receive a micro-grant to help run their business. Program participants submitted their business plans for review and a chance to be selected to pitch in front of a panel of judges to win five grants.

Of the pitches, these successful entrepreneurs were selected to receive a grant of $5,000 to start and grow their businesses. Let’s meet our grant winners!

Manjit Hansra – Rx for Renewal (Oakville)

Alexander Adams – Hockey Knowledge Consulting (Oakville)

Rachel Watson – You, Me and a Laser (Burlington)

George Zeng – Nostalgia Games Café (Burlington)

Craig Totten – N44 Studio (Halton Hills)

We would also like to congratulate and thank the other 5 participants for participating in the pitch competition where they each received a runner up grant of $500

Farah Ardeshir – Spark the Light Within (Milton)

Curtis Medina – Full Circle Health and Fitness (Milton)

Lisa Marie – Universal Healing (Oakville)

Vaughan Graston – The Sales Machine (Burlington)

Brinell Lewis – Nahara Superfoods Ltd. (Burlington)

Congratulations to all of our Starter Company Plus program participants and grant recipients! A special thank you to our mentors and advisors for their time and expertise throughout the program.  Our spring cohort kicks off in April.  Visit our Starter Company Plus webpage for more details. Stay tuned for information on how you can register to attend a mandatory Information Session in March.

Data Insights – Development highlights across Halton during Q3 2023

Industrial, commercial and institutional (ICI) development activity across Halton declined by 37 per cent during the third quarter of 2023 over the previous quarter.  Between July and September, $253 million in building permit construction value was issued for ICI developments in Halton, down $148 million from the second quarter of 2023.  In comparison to the same period in 2022, however, ICI building permit construction value in Halton was 33 per cent higher in the third quarter of 2023.

development-infographic-q3-2023Download

We’re here to help.  Contact us for assistance in locating your business in Halton Region, or for additional information on the Halton economy. For more detailed statistics, visit our Invest Halton Data Insights webpage.

Data Insights – Halton’s unemployment rate continued to rise in the 3rd quarter

On October 6, Statistics Canada released the Labour Force Survey data for the third quarter of 2023. The data indicates that Halton’s unemployment rate rose from 5.4% in Q2 to 6.6% in Q3 2023, which is the second consecutive quarterly increase this year. However, unemployment in Halton remains below that of the overall Greater Toronto Area (GTA). Halton’s labour force participation rate also fell 2.5 percentage points over the previous quarter, averaging 66.8% in Q3.

labour-rate-infographic-q3-2023-1Download

We’re here to help.  Contact us for assistance in expanding your business in Halton Region, or for additional information on the Halton economy. For more detailed statistics, visit our Invest Halton Data Insights webpage.

Data Insights – Development highlights across Halton during Q2 2023

Industrial, commercial and institutional (ICI) development activity across Halton increased by 59 per cent during the second quarter of 2023 over the previous quarter.  Between April and June, $401 million in building permit construction value was issued for ICI developments in Halton, up $149 million from the first quarter of 2023.  In comparison to the same period in 2022, ICI building permit construction value in Halton was 188 per cent higher in the second quarter of 2023.

development-infographic-q2-2023Download

We’re here to help.  Contact us for assistance in expanding your business in Halton Region, or for additional information on the Halton economy. For more detailed statistics, visit our Invest Halton Data Insights webpage.

Starter Company Plus – Grant Winners

Meet our Starter Company Plus Grant Winners!

In May, the Halton Small Business Centre kicked off its spring 2023 Starter Company Plus program. The program supports aspiring entrepreneurs looking to launch or build their small businesses in Halton. The program provides training, mentoring, and an opportunity to receive a micro-grant to help run their business. In July, program participants submitted their business plans for review and a chance to be selected to pitch in front of a panel of judges to win our five grants.

Of the top pitches, these successful entrepreneurs were selected to receive a grant of $5,000 to start and grow their businesses. Let’s meet our grant winners!

• Amanda Horn – Loless Blue Beauty
  Loless is a circular, blue beauty company inspired by the human x ocean connection and is designed to reduce water use through waterless shave products. For more information, visit www.gololess.com 
• Aasiya Victoria Walling – Ummah Maternal
  Help women find and access support, education and services during pregnancy and postpartum. For more information, visit www.ummahmaternal.com
• Krista Znebel – Sprout Your Health
  Professional Nutritionist offering individualized nutrition programs for your best health
  specializing in SIBO, mental health and gut issues. For more information, visit www.sproutyourhealth.ca
• Omar Rafique – North Charge Inc.
  North Charge provides end-to-end EV Charging solutions and services encompassing hardware and software targeting businesses, fleet, and EV Drivers. For more information, visit www.northcharge.ca   
• Mara Buckle – Cozy Cookie Co,
  Cozy Cookie Co. creates beautiful and delicious treats for events big and small with simple ingredients you can pronounce. For more information, visit www.cozycookieco.com

Congratulations to all of our Starter Company Plus program participants and grant recipients! A special thank you to our mentors and advisors for their time and expertise throughout the program.

Data Insights – Halton’s unemployment rate rose slightly in the 2nd quarter

On July 7, Statistics Canada released the Labour Force Survey data for the second quarter of 2023. The data reveals that Halton’s unemployment rate rose from 3.9% in Q1 to 5.4% in Q2 2023, remaining similar to both the provincial and national rates of 5.3%. Additionally, Halton’s labour force participation rate experienced a 0.4 percentage point increase compared to the previous quarter, averaging 69.3% in Q2. This exceeds the pre-pandemic levels recorded in Q4 2019.

labour-rate-infographic-q2-2023Download

We’re here to help. Contact us for assistance in expanding your business in Halton Region, or for additional information on the Halton economy. For more detailed statistics, visit Invest Halton Data Insights.

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