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It’s been a hard day’s year! – Unemployment is the lowest it’s ever been on record

• The Downtown Toronto office market posted a historic net absorption of over 2.6 million square feet last year. The surging demand pushed vacancy down to 4.6 percent by year end. That’s the first time it’s dropped below 5.0 percent since 2012.

• With all that space being gobbled up, someone’s got to be moving in! And it’s showing in the labour market.

 •In 2017, over 146,000 new jobs were added to the Toronto market. Unemployment dropped almost 100 basis points to 6.0 percent by December, a rate which hasn’t been attained since 2001!

• Now, unemployment continues to drop in the opening months of 2018, currently down to 5.8 percent. That’s the lowest rate ever recorded! So let’s roll up those sleeves and get to work!


Source: Statistics Canada​




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