[Dilla]

I'm also not sure that equalization is a major drain on Toronto specifically. The GTA, maybe, but I don't see how Toronto would send that much away. Our median incomes aren't appreciably higher than national averages.

We don't put more in, we get less back.

 

[Glen]

We don't put more in, we get less back.

Provide some evidence.

 

[White]

Hello,

for my first post, I am wondering to settle in Toronto. I am living in Montréal (never been in Toronto), but the economy isn't dynamic, especially for a non-quebecker. The labor market is blocked by the crisis (temp.) and by the too closed cultural identity (permanent). Do you advice to move to Toronto now or at the beginning of 2010? Does it worth to leave Montréal for Toronto?

I checked the datas about the economy of Toronto on officials websites:
"Current Labour Market Statistics" October 2009":

Following four months of employment growth, employment in Ontario declined by 12,000 in October. The October job loss was concentrated in part-time employment, which fell by 15,200. Full-time employment showed a moderate increase of 3,200 in October. Despite the recent employment gains, employment in Ontario has declined by 217,200 (3.2%) since the peak of last September.

• The employment drop in October pushed the unemployment rate up by 0.1 percentage point to 9.3%. The current Ontario unemployment rate is much higher than that of a year ago, which stood at 6.5% in September 2008. Ontario’s unemployment rate is still well above the Canadian rate of 8.6%, and is just below its 15 year peak of 9.6% reported in June.

• Compared to a year ago, the number of people unemployed for 27 weeks or more rose from 63,500 in October 2008 to 142,600 in October 2009, which represents 25% of the unemployed, up from 15%. In addition, the average duration of unemployment increased from 16 weeks to 21 weeks over the same period.

• All of the job losses in October were in the public sector (24,400). Private sector employment rose by 11,100, while the number of self-employed posted a modest increase of 1,300 in October.

• While the services-producing sector experienced a large employment drop of 28,900 in October, with the largest losses occurring in the trade sector (15,600), the professional, scientific and technical services sector (9,400) and the public administration sector (8,800), the goods-producing sector posted an employment increase of 16,900, with a large jump in the construction sector (16,400). While manufacturing employment increased by 2,600 in October, losses since the employment peak in 2004 have totalled 322,000 and the sector’s share of total employment decreased from an average of 18.1% in 2002 to 11.9% in October 2009.

• Many communities in Ontario continued to experience weak labour market conditions in October. Ontario posted the six highest unemployment rates among Census Metropolitan Areas in Canada: (Windsor at 12.5%, London at 10.3%, Sudbury at 10.1%, Toronto at 9.5%, St. Catharines-Niagara at 9.4%, and Oshawa at 9.2%)

The unemployment rate is still quite important, but I have no doubt that the province will restore its economy fast.