The Ontario Chamber of Commerce is out with its annual Ontario Economic Report, which paints a gloomy economic picture for the province.
According to the report, business confidence is at a record low. However, the report also states most businesses are confident they'll weather the storm.
Labour shortages, inflation, vulnerabilities in the health care system and poor economic forecasts are identified by the Ontario Economic Report as the issues at the forefront of Ontario's business community.
Sault Ste. Marie Chamber of Commerce CEO Rory Ring said the report is not surprising.
"I think what we see here is really the culmination of the last three years crystalizing into some bad news, and that really is, at the end of the day, it is some bad news," said Ring.
However, he said the north has not seen the same economic challenges tied to the pandemic as other regions.
"Northern Ontario has actually done fairly well in comparison to, I think, other jurisdictions," Ring said.
"That really is because the base of our economy, even through the pandemic, remained quite active in the areas of the natural resource sector and in terms of manufacturing."
Ring expects the local labour pool to expand on account of younger and older workers seeking employment.
The Ontario Chamber of Commerce has found sectors impacted the most by labour shortages are education, construction and hospitality.
As Joe Biden makes his first trip to Canada as president of the United States, CTVNews.ca is offering live coverage of the leader's visit. Follow our live blog on CTVNews.ca and the CTV News app for the latest updates.
U.S. President Joe Biden arrived on Parliament Hill saying that he and Prime Minister Justin Trudeau "have a lot to talk about," but that it's great to be in Canada.
Notable people will be in attendance at Friday’s gala dinner with U.S. President Joe Biden, hosted by Prime Minister Justin Trudeau and his wife at the Canadian Aviation and Space Museum, including former prime ministers and celebrities.
Ontario’s self-described crypto king was allegedly abducted, tortured, and beaten for days as his kidnappers looked to solicit millions in ransom, his father told a court in December.
The United States' first lady was given a sweeping introduction to Canadian sports culture in Ottawa today as Sophie Gregoire Trudeau took Jill Biden to the curling rink.
W5 investigates aging asbestos pipes across Canada and the potential health hazards if it ends up in your tap water. Watch W5's 'Something in the Water' Saturday at 7 p.m. on CTV.
Short-term rental company Airbnb says it will pull listings that don't have a proper permit from the Quebec government. The San Francisco-based company made the announcement eight days after a fatal fire destroyed an Old Montreal building that housed illegal rentals.
An Ontario couple has filed a request with the Office of the Independent Police Review Director (OIPRD) to appoint a new police force to investigate the death of their 17-year-old son Benjamin, who died during a hockey team-bonding event in September 2019.
An astrophotographer from southern Ontario captured Thursday night’s display of the Aurora Borealis and has offered some tips and tricks for catching a glimpse of them yourself tonight.
Ontario’s self-described crypto king was allegedly abducted, tortured, and beaten for days as his kidnappers looked to solicit millions in ransom, his father told a court in December.
Security footage from a Hamilton beauty salon shows the moment in which an esthetician was allegedly attacked by a client after a disagreement over services.
U.S. President Joe Biden arrived on Parliament Hill saying that he and Prime Minister Justin Trudeau "have a lot to talk about," but that it's great to be in Canada.
An uncommon phenomenon lit up the skies across southern Ontario on Thursday night, including in Waterloo region where the aurora borealis – also known as the northern lights - shone bright enough to see with the naked eye.
It might be a sign of change in the pandemic that has gripped the world for three years, as the regional COVID-19 cold and flu care clinic run by Grand River Hospital is closing its doors.
A London man was arrested early Friday morning after being spotted throwing a cinder block through the front door of a restaurant, according to police.
Short-term rental company Airbnb says it will pull listings that don't have a proper permit from the Quebec government. The San Francisco-based company made the announcement eight days after a fatal fire destroyed an Old Montreal building that housed illegal rentals.
Canada and the United States are negotiating a deal that could see asylum seekers turned back at irregular border crossings across the border, including Roxham Road in Quebec.
For the first time, the owner of a building in Old Montreal has responded to questions about the fire — through his lawyer — addressing allegations that the building was unsafe.
Housing advocates in Nova Scotia say the provincial budget neglects people struggling with affordability and those on the edge of experiencing homelessness.
A Manitoba First Nation is enacting measures to combat an ongoing drug and addiction crisis while also calling on the federal and provincial governments to do more to address drug-related deaths within northern remote Indigenous communities.
Manitoba’s labour force is growing at a rate to supply enough workers for available positions into 2026, according to the province’s labour market outlook.
Calgary police have released photos of a man and vehicle believed to be involved in a case of road rage last month that left the victim with substantial injuries.
The Calgary Police Service confirms charges have been laid against a driver in connection with Thursday's crash of a semi-truck into the 32nd Avenue N.E. overpass along Deerfoot Trail.
A tuition increase of 5.5 per cent for domestic students and international students who were admitted before the start of the 2020 academic year was approved by the University of Alberta Friday morning.
The City of Vancouver has asked a group of volunteers keeping vigil over a temporary residential school memorial at the Vancouver Art Gallery to remove the tribute.
