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News and MEdia Releases

Report predicts economic boom times ahead for Hamilton

3/1/2016

 
Picture
​Hamilton and the surrounding area is in for a boom of manufacturing jobs and soaring house prices over the next two years, according to a pair of new economic outlook reports.

A joint study by the Ontario Chamber of Commerce and Credit Unions of Ontario, supported by the Hamilton and Burlington chambers, predicts the Hamilton-Burlington-Grimsby area will "experience above-trend employment growth" in the next two years as the troubled manufacturing sector ends its lengthy restructuring.

"We expect some impressive economic performance from the bay area," said Helmut Pastrick, chief economist at Central 1 Credit Union. "The Hamilton area will experience ongoing growth and better growth than we experienced in 2015."

Specifically, the forecast study says the bay area's 5.6 per cent unemployment rate will fall below five per cent in 2017. That drop will be fuelled by the twin forces of more jobs and a lower labour force participation rate. A portion of the area's working age population has opted out of the workforce and this remains a problem in several parts of the country.

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  • Business Directory
    • Food
    • Shop
    • Entertainment & Fitness
    • Beauty
    • Professional Services
    • Health And Wellness
    • Community Partners
  • What's Happening
    • News
    • Black History Audio Tour
    • Murals >
      • Seven Sacred Grandfather Teachings Mural
      • The Journey Mural
    • Bunny Hop & Shop
    • Sidewalk Sounds
    • Streetfest
    • Summer Concert Series
    • Video Library >
      • Spend It Here
  • About the BIA
    • What is a BIA
    • History of our Street
    • Market Assessment
    • Current Board
    • Meetings >
      • Agendas
      • Minutes
    • BIA Policies & Budget >
      • Budget
      • Procedural By-Law
      • Code of Conduct
      • Procurement Policy
  • Contact