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Region Given Overall Economic Picture

Economic Manager also asked to provide definition of "affordability"

The Niagara Region's Planning and Economic Development Committee getting an update to the condition of the region.

Manager of Economic Development Blake Landry revealed many statistics, including a decline in those employed, but a rise in wages and goods produced expected to grow slowly.

At one point, Councillor Haley Bateman wanted a better definition of the word "affordability".

She recalled a recent conversation she had with someone who basically can't afford a mortgage.

Landry said it's very complex.  "I would argue in the last, maybe, 4 or 5 years the definition of affordability could have evolved drastically, just because of the peaks that we've seen in the cost of living, in inflation, in housing."

He added the number of business starts in Niagara is also growing.

However, he's also looking at a decline in the number of people working.

That depends a lot on seasonal work, but there's also many sectors or types of jobs.  "That being said, it's really the service oriented sector that's really being effected here.  Goods producing sector has remained very strong coming through the pandemic, because of supply chain challenges actually created a big opportunity for Niagara."

He says it would take time to analyze how many people have given up job hunting.

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