As 2021 wraps up, the CEO of the London Chamber of Commerce is looking back at this year’s job numbers and how COVID-19 may impact local businesses in 2022.
Speaking to 980 CFPL’s Mike Stubbs on London Live, Graham Henderson says London’s job numbers stayed relatively positive during the pandemic.
“London has had very robust numbers. In fact, London went into the pandemic leading in many respects, (and) it’s still leading,” he said.
The London-St. Thomas jobless rate climbed from 4.9 per cent in February 2020 to 5.8 per cent in March 2020.
A year later, the unemployment rate inched up to 7.0 per cent in March 2021, from 6.9 per cent in February 2021.
It was the first time the rate has climbed since it hit a high of 12.6 per cent in June 2020.
“I think our job numbers are as good as the best in Canada, and that has a lot to do with the commercial make-up of the city,” said Henderson. “Unlike some towns which are all automotive or one industry, London has a very varied make-up of commercial outlets and retail.”
“It isn’t to say there hasn’t been very, very hard-hit sectors,” he continued. “If you’re in any business where people congregate (such as) hockey arenas or small restaurants. Creative industries and the entertainment sector basically (had to) shut down.”
The latest job numbers, released early December, shows the London-St. Thomas unemployment rate for November reaching a new 2021 low after falling for the fifth consecutive month.
The jobless rate for the region was 6.4 per cent in November, down from 6.7 per cent in October.
Moving forward, Henderson says the London Chamber of Commerce has brought in an Indigenous consultant to help them build a path to reconciliation.
“We have a community engagement process that’s going on right now. That’s so we can honour and take responsibility for the calls to action from the Truth and Reconciliation Commission,” he said.
The CEO says one of the major questions he is receiving from businesses is how they might be affected by the Omicron variant, but he says it’s too early to fully determine its impact.
-With files from 980 CFPL’s Jacquelyn LeBel
Comments