Insurance Business Insurance and finance jobs boost help region outpace rest of Canada

Insurance and finance jobs boost help region outpace rest of Canada A new report has found that York Region’s job growth is far outpacing national and provincial rates – even the GTA’s rates.

Data from the report, entitled the “2016 York Region Employment and Industry Report”, noted that the finance and insurance sector helped contribute to York Region’s considerable growth.

The report, which analyzed Statistics Canada labor force information, said that the region’s employment growth rate was 3.1% in 2016 over 2015, with 15,000 new jobs created. The data puts York’s job growth rate about eight times higher than the national average, at 0.4%. It is also six times more than Ontario’s 0.5% and triple GTA’s 1%.

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“York Region is focused on creating an environment that attracts, grows and maintains businesses,” regional chair Wayne Emmerson told Aurora Banner. “We are investing millions of dollars to build modern transit, maintain our roads and provide high quality services like water and wastewater management. These improvements are contributing to York Region’s excellent quality of life and are helping to drive our success.”

The finance and insurance sector added 13,000 jobs in York Region over the last decade, the data showed, growing at an annual rate of 7%.

By comparison, the construction sector posted a gain of 17,600 jobs over the last 10 years.

The sector that saw the single largest gain was the healthcare and social service industries, which together added 2,400 jobs in the previous year alone.

The number of jobs in the region surged to nearly 600,000 from just under 210,000 a decade earlier.

Although full-time employment makes up the most of York Region’s job market, it has begun to slip –from 76.3% in 2006 to 70.9% in 2016.

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