TORONTO – Ontario’s financial watchdog says the province’s economy has recently started to feel the impact of American tariffs, shedding 38,000 jobs.
Financial accountability officer Jeffrey Novak says in a report today that economic indicators for the second quarter of 2025 are mostly negative.
Employment, in particular, took a hit with most of the job losses felt in the manufacturing sector.
The unemployment rate rose for a ninth consecutive quarter, up to 7.8 per cent.
Novak says the effects of tariffs are being particularly felt in Windsor, which has a large manufacturing base, and its unemployment rate rose 1.9 percentage points in the second quarter to 11.2 per cent, the highest in the province.
The NDP says the provincial government isn’t doing enough to protect jobs.
This report by The Canadian Press was first published Aug. 21, 2025.
