Ontario Province Profile

Ontario government proposes service cuts as budget deficit is projected due to plunging revenues; below average economic growth predicted despite small and medium business growth; residents more likely to save less in current economic climate.

• Province job growth fell 3.0% in September 2009 from a year ago; national job growth fell 2.1%.
• Province unemployment averaged 9.2% in September 2009; the national average was 8.4%.
• Average weekly earnings rose 1.1% to $845 in July 2009 from a year ago.
• Provincial revenue fell 4.6% in FY 2009 from the previous year.
• Exports fell 26.2% to $70.9 billion in the first seven months of 2009 from a year ago.
• Venture capital investment in ON fell 58% to $66 million in Q2 2009 from the previous year, representing 37% of the national total.