Unemployment Rate in Guelph Hits Record Low
Statistics Canada has issued its most recent employment stats, in which it lists the city of Guelph, Ontario as having the lowest unemployment rates in the province. Released on February 6, 2015, the findings state that January’s jobless rate in Guelph was an astonishing 5.1%. When looked at as entire country, Guelph’s unemployment rates are listed as the eighth lowest in Canada.
The Canadian economy has experienced an influx of part-time jobs. While an estimated 11,800 full-time positions have been lost, 47,200 new part-time jobs have been added to the workforce (Statistics Canada) . During the decline in oil value, almost 9,000 jobs in natural resources were cut in January 2015. However, over 22,000 positions have been created in professional, scientific, and technical sectors. These new positions across the country will require businesses to seek out staff with new skillsets relevant to their sector or develop their existing workforce through formal training programs.
Despite the arrival of new employment opportunities, the Canadian government is hoping to continue to decrease unemployment rates across the country. In a constant effort to lower the rate of joblessness, the Canadian government has released enticing funding grants and loan opportunities available for businesses to develop their labor force.
New Positions & Workforce Retention Demand Additional Training
An influx of available part-time positions gives employers an opportunity to gain new staff members and develop their businesses accordingly. In an effort to help create jobs and advance the current workforce, the Canada-Ontario Job Grant helps to develop Canada’s workforce through the implementation funding for improved employee training. The Canada-Ontario Job Grant is a training grant program that was introduced in 2014 as part of Canada’s Economic Action Plan. The purpose of COJG is to provide Canadian employees with training to improve their current skillsets and build their employability and help guarantee retention in the workplace. As new and existing employees are given the opportunity to build their resume via training advances, employers are able to ensure that their staff’s qualifications are above and beyond the status quo in order to keep the business competitive and their workforce satisfied with their career progression.
Develop Employees with Canadian Government Grants
The Canadian government has implemented funding and grant opportunities for businesses to take advantage of. By offering to support training costs and provide funding for skillset development, employers are able to advance their workforce with a reduced financial commitment.
Canada-Ontario Job Grant
The Canada-Ontario Job Grant benefits employers and employees alike through its training opportunities. Eligible businesses are able to obtain up to $10,000 for each employee to cover 66.67% of third party training expenses. The COJG is applicable to both established employees and new hires. Some examples of acceptable training practices include:
- Soft skills training;
- 3rd party training (products, equipment, processes); and
- Post-Secondary institution courses to advance academic and practical .
FedDev Ontario Training Program
The FedDev Ontario Training Program supports the implementation and adaptation of new technologies in the workplace, and new procedures or processes used to contribute to manufacturers in south Ontario committed to exporting. The program provides up to $50,000 in non-repayable Canadian government funding, with a continuous intake process during open program times. Both trainer costs and trainees’ direct labour are covered up to 50% through this training grant. Some examples of acceptable projects include:
- New production software training;
- Development of new engineering skills; and
- Hardware or other tools that support project innovation within a manufacturing facility.
Discover Canadian Government Funding Opportunities for your Organization
Mentor Works is pleased to provide complimentary webinars and informative workshops for businesses to educate themselves on available Canadian government funding and how these can be used to further their strategic initiatives. To learn more about government funding that your business may be eligible to receive, subscribe to our weekly funding E-newsletter, or register for an upcoming educational workshop or webinar. We have specific webinars for training grants, including a Q&A session, so be sure to register soon as spaces are limited.