Ottawa report shows strong economic performance
Special to WC Online
OTTAWA – The 2017 Annual Development Report, presented to the city’s Planning committee July 10, reported Ottawa continues to have a strong economy with a healthy supply of jobs and general economic stability.
The unemployment rate decreased 0.7 per cent to 5.6 per cent in 2017 – lower than both the six-per-cent provincial rate and the 7.3-per-cent national rate.
The city produced report also highlighted number of commercial services and amenities located within a 30-minute walk of each light-rail transit station has also increased. This is the second year staff have tracked the index of commercial services around transit stations, which marks progress towards Official Plan targets for intensification and community vitality around the light-rail transit stations.
Ottawa’s population grew 1.1 per cent in 2017, rising from 968,580 to an estimated 979,173 residents. Migration was an important factor in that growth, with 9,888 people moving to Ottawa – an increase of 69.7 per cent over the previous year. To help accommodate that growing population, Ottawa saw a 36.5-per-cent increase in new housing starts in 2017, adding 6,849 households across the city. Housing starts for all unit types increased, with apartments making up 40.8 percent of all starts in 2017, compared to 24.8 per cent in 2016.