DURHAM — As Canada’s jobless rate rose to 7.2 per cent in July, Durham continued to defy the larger trend, posting job gains and an unemployment rate below the national average.
The Statistics Canada announcement on Aug. 9, which pegged the unemployment rate across the country at 7.2 per cent after the economy lost 39,400 net jobs in July, offered little hope to those looking for employment, but Durham seems to be bucking the trend, with unemployment rates decreasing locally.
Numbers from the Durham Workforce Authority show a decrease in the unemployment rate from 8.8 per cent in July 2012 to 6.4 per cent in July 2013 for the Oshawa census metropolitan area, which includes Oshawa, Clarington and Whitby. From April 2013 to July, the rate dropped from 8.2 per to its current low of 6.4, putting it below the national average.
Quentin D’Souza is the Chief Education Officer of the Durham Real Estate Investor Club. Author of The Action Taker's Real Estate Investing Planner, The Property Management Toolbox: A How-To Guide for Ontario Real Estate Investors and Landlords, The Filling Vacancies Toolbox: A Step-By-Step Guide for Ontario Real Estate Investors and Landlords for Renting Out Residential Real Estate, and The Ultimate Wealth Strategy: Your Complete Guide to Buying, Fixing, Refinancing, and Renting Real Estate.