Data Insights – Halton’s Q2 Economic Performance

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Halton Region Economic Development publishes a quarterly newsletter that reports on Halton’s economic performance with respect to development, labour force, and real estate markets. Sign-up here to receive the quarterly report delivered to your inbox.

Highlights from the 2018 Q2 Economic and Development Report:

Construction activity slows during the second quarter of 2018

Emerging from record-breaking levels of development initiated across Halton during 2017, total building permit construction value declined by 45% year over year – suggesting a return to average growth trends. Despite a significant decline in total construction values, commercial construction permits remained strong with a few substantial building projects. A major commercial development initiated during the quarter was a $29 million Kraft-Heinz Canada distribution facility in Halton Hills. Additionally, construction commenced on a mixed-use condominium within Ballantry’s Oak Park in Oakville ($26 million).

 

Unemployment rate edged up during the second quarter of 2018

The unemployment rate in Halton averaged 5.1% over the second quarter, representing a 0.9 percentage point (pp) increase in comparison to the second quarter of 2017. The region’s Q2 unemployment rate was significantly lower than the national (6.1%), provincial (5.8%) and overall Greater Toronto and Hamilton areas (GTHA) (5.4%) figures. Halton’s participation rate decreased by 2.5 pp year over year, and at 69.6%, the figure remains higher than the national (65.3%), Ontario (64.3%) and GTHA (65.1%) rates. Visit the Data Centre for additional labour market statistics and historical data.

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 DataInsights webpage.

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