Ontario lost tens of thousands of jobs in the past three months, according to the province’s financial watchdog, as the impacts of tariffs from the United States begin to bite.
A new report published by the Financial Accountability Officer of Ontario found employment had dropped by 38,000 jobs in the province during the second quarter of the year.
“The unemployment rate rose for the ninth consecutive quarter, reaching 7.8 per cent in 2025 Q2,” part of the report said.
“This is 2.6 percentage points higher than the low of 5.2 per cent recorded in 2023 Q1, and marks the highest unemployment rate since late 2012, excluding the pandemic.”
The report found tariffs levied by U.S. President Donald Trump on Canadian imports to his country were behind some of the changes.
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