The Windsor-Essex Regional Chamber of Commerce (WERCC) along with the Ontario Chamber of Commerce (OCC) has released its inaugural economic report.
The report highlights a confidence gap between provincial economic outlooks versus organizational. Only 24% of OCC members are confident in Ontario’s outlook while 62% of of members are confident in their own organizations outlook.
“Investment is being held back because of a high perception of risk. We need to ensure that our region and our province can grow and prosper,” says Matt Marchand, President and CEO of WERCC, in the report.
Falling participation in the work force is found to be at a 15-year high despite the unemployment rate falling. The report says that 35% of the working age population is not participating in the work force.
The report says that the unemployment rate for Windsor is likely to rise to 6.5% with the average price of a home rising about 3.9% to $187,000.
Other areas of concern highlighted were a downtrend in exports and a skills shortage.
