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.
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