{"id":7630,"date":"2022-02-03T09:59:50","date_gmt":"2022-02-03T14:59:50","guid":{"rendered":"https:\/\/oshawachamber.com\/?p=7630"},"modified":"2023-12-12T22:40:10","modified_gmt":"2023-12-13T03:40:10","slug":"ontario-economic-report-2022","status":"publish","type":"post","link":"https:\/\/oshawachamber.com\/oshawa-chamber-news\/ontario-economic-report-2022\/","title":{"rendered":"Ontario Economic Report: Outlook dampened by labour shortages, supply chain issues"},"content":{"rendered":"
(Oshawa, ON \u2013 FEBRUARY 3RD<\/sup>, 2022)<\/strong> \u2013 Pain points throughout Ontario\u2019s economy are impairing business operations, and now consumers are feeling the pinch too. The frustration is palpable. From the grocery store and trucking industry to their pocketbooks, Ontarians are experiencing the very real consequences of labour shortages, global supply chain disruptions, and inflation. Today, the Greater Oshawa Chamber of Commerce and the Ontario Chamber of Commerce (OCC) released the sixth annual Ontario Economic Report (OER) providing regional and sector-specific data on business confidence, policy priorities, and economic indicators, which together provide a unique view on the hurdles ahead.<\/p>\n \u201cOntario began to see some positive momentum in 2021 thanks to progress on vaccines and reopening. Business confidence, GDP, and employment growth are trending upwards after record lows in 2020. However, the road ahead remains uncertain for businesses and households as labour shortages, supply chain disruptions, and inflation are hitting home,\u201d said Rocco Rossi, President and CEO, Ontario Chamber of Commerce. \u201cA staggering 62 percent of sectors are facing labour shortages in Ontario and expect to continue facing them over the next year. This is having real-life consequences on the cost of living, service delivery, and product availability.\u201d<\/p>\n