Financial watchdog report shows ongoing job losses amid Doug Ford’s jobs disaster

QUEEN’S PARK – Ontario NDP Shadow Minister for Finance Jessica Bell (University-Rosedale), and Shadow Minister for Economic Development, Job Creation and Trade Catherine Fife (Waterloo), say the FAO’s new economic monitor shows what Ontario already knows - workers are being left behind while the Ford government continues to deny the realities of a weakening job market.

In the report, the FAO confirms Ontario has now seen two straight quarters of job losses, youth unemployment has climbed to its highest level in more than a decade, and manufacturing has fallen to its lowest share of employment since record-keeping began in 1976.

“Doug Ford is a jobs disaster, and this report confirms it. Folks are struggling while the government keeps living in the delusion that the province’s economy is in a strong spot,” said Bell. “Youth unemployment is at nearly 17%, long-term joblessness is rising, and families are really feeling it.”

Fife said the numbers reveal the truth behind Ford’s manufacturing claims.

“Manufacturing GDP has declined in seven of the last eight quarters,” said Fife. “Action must be taken as output is down nearly 10 percent, and 20,600 manufacturing jobs have disappeared. Ford keeps talking about being a manufacturing powerhouse, but workers are seeing and feeling the complete opposite.”

The NDP say Ontario needs a real plan to protect jobs, rebuild manufacturing, and support young workers facing shrinking opportunities and higher barriers to employment.

“Workers deserve leadership that focuses on stable, well-paid jobs, not slogans,” said Bell. “New Democrats will keep fighting for a plan that actually strengthens Ontario’s economy and puts people first,” concluded Fife.

Background: Key FAO findings:

• Ontario lost 1,900 jobs in Q3 after losing 38,000 in Q2.
• Youth unemployment rose to 16.8 percent, the highest since 2012 outside the pandemic.
• Manufacturing real GDP has declined in seven of the last eight quarters and is down nearly 10 percent since 2023.
• Manufacturing jobs now account for less than 10 percent of employment for the first time since 1976.
• Long-term unemployment reached its highest share since 1996 outside the pandemic.