Major City Insights: Oshawa—July 2022

Name: Major City Insights: Oshawa—July 2022
SKU: 11719-0405-WEB
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Canadian Economics

July 14, 2022

Urban City Economic Analysis

8 min read

Author: The Conference Board of Canada

$985.00

Although the threat of COVID-19 is far from over, the economies of most major cities across Canada are back on track and weathering the storm of soaring inflation, rising interest rates, and—in many cities—cooling housing markets. Employment will keep growing this year, particularly in sectors of the economy hardest hit by the pandemic.

This edition of our Major City Insights provides new forecasts for growth in 11 major cities in Canada as of June 9, 2022.

This publication focuses on the Oshawa metropolitan economy.

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Oshawa’s labour market continues to recover from pandemic-induced job losses, with especially strong job gains expected in hospitality and manufacturing this year.

The outlook for the city’s manufacturing sector keep improving, especially now that General Motors Canada has announced an additional shift at its recently reopened Oshawa assembly plant.

Strong employment prospects will therefore attract people to the city over the coming years.

We forecast Oshawa’s economy will grow by 3.8 per cent this year and a further 3.0 per cent in 2023.