Closing the Prosperity Gap:
Solutions for a More Liveable City Region
Maintaining a high quality of life for all residents through economic inclusion is a key driver of the Toronto region's economic prosperity and ability to compete in a global marketplace. However, the prosperity we enjoy today is not a guarantee for tomorrow. Our region is confronting worrying trends that threaten to undermine our quality of life over the next several years.
It is with this in mind that the Board has released, Closing the Prosperity Gap: Solutions for a More Liveable City Region, the final report in its Think Twice, Vote Once — Decision 2014 campaign.
This report, the product of a unique collaboration with our research partner, United Way Toronto, outlines three challenges facing the Toronto region and a variety of solutions that leaders must champion to close a growing prosperity gap:
- A rise in non-standard employment with less stability, benefits and opportunities for career advancement
- A growing affluence gap between high and low income neighbourhoods, due to unequal access to services, supports and secure employment
- Youth and newcomer unemployment and underemployment due to reduced employment opportunities and undervaluing the qualifications of newcomers
Understanding our region's changing labour market is critical to ensuring youth, newcomers and others embarking on new career paths can successfully transition into rewarding employment. This report includes a labour market demand projection data file for the Toronto region, which indicates that over the next five years, 520,000 job openings will be created in the region from new economic and demographic growth and retirement of older workers.
However, without business and political leadership, and educational pathways to obtaining the right skills to fill these jobs, youth and newcomers will continue to face barriers to taking advantage of these openings
Outlined in our report are a number of proven solutions, some already being implemented by government, educators, the private sector and labour, that leaders across our region can embrace to ensure a better quality of life for all residents. To learn more, download and read the full report.
Closing the Prosperity Gap was made possible through the support of the following sponsors:
Toronto region will need to fill 500,000 jobs in next five years
Vanessa Lu, The Star
GTA needs to fill half a million jobs by 2019
David Shum, Global News
Matt Galloway in conversation with Susan McIsaac, President and CEO of United Way Toronto
Toronto's economic gap may widen despite projected increase in jobs (with video)
Diana Pereira, CityTV
Toronto's mayoral candidates have missed an opportunity
Marcus Gee, The Globe and Mail
Closing Toronto's prosperity gap
Beth Wilson, Chair, Toronto Region Board of Trade
United Way, Closing the Prosperity Gap for a Liveable City Region: Making sure jobs are filled where the need is greatest
Royson James, Toronto Star
More than half a million job openings in the next five years, but will Toronto region residents benefit?
More than half a million job openings in the next five years