City of Vaughan

HIGHLIGHTS

• The national Consumer Price Index rose 2.8 per cent year-over-year in June, following a 3.2 per cent increase in May.
• The national unemployment rate declined by 0.1 percentage points to 6.5 per cent in June, while the employment rate rose 0.1 percentage points to 60.8 per cent.
• National Real Gross Domestic Product grew 0.3 per cent in May, rising for a second consecutive month, after April’s 0.5 per cent growth.
• In June, the Vaughan Business and Entrepreneurship Centre experienced demand for consulting in retail trade, education services, health care and social assistance, construction, and accommodation and food service.
• Government of Canada invests $10M in Vaughan-based Hanon Systems to strengthen Canada’s EV manufacturing sector.
• Ontario government announces $55.8M investment to open the first medical school for family doctors in Vaughan at York University School of Medicine.
• Volatus Aerospace Partners with Singular Aircraft to Introduce Heavy-Lift Autonomous Aircraft for Canadian Wildfire Response.

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SELECT ECONOMIC INDICATORS

The national Consumer Price Index rose 2.8 per cent year-over-year in June, following a 3.2 per cent increase in May.

The Consumer Price Index rose 2.8 per cent on a year-over-year basis in June, following a 3.2 per cent increase in May. In Ontario, the Consumer Price Index rose 2.0 per cent year-over-year in June, rising at a slower pace than May (2.6 per cent); this was the smallest provincial increase across all provinces in Canada. Year over year, prices rose at a slower pace in all provinces in June except for Prince Edward Island.

Gasoline prices increased at a slower rate on a year-over-year basis in June (20.5 per cent) compared to May (33.2 per cent). The interim ceasefire and diplomatic talks contributed to the easing of global oil prices in June, leading to a 10.2 per cent month-over-month decline.

Prices for travel accommodation increased on a year-over-year basis in June, rising 10.1 per cent compared with a 2.5 per cent increase in May. Driving the acceleration were higher prices in Ontario (19.4 per cent) and British Columbia (20.0 per cent), mainly in Toronto and Vancouver, which were both host cities for FIFA World Cup matches.

 

The national unemployment rate declined by 0.1 percentage points to 6.5 per cent in June, while the employment rate rose 0.1 percentage points to 60.8 per cent.

The unemployment rate declined 0.1 percentage points to 6.5 per cent, while the employment rate rose 0.1 percentage points to 60.8 per cent. Employment grew by 18,000 jobs (+0.1 per cent) in June. The youth unemployment rate fell 0.7 percentage points to 12.7 per cent, with 33,000 jobs added for youth aged 15 to 24 across Canada.

Employment was relatively unchanged in June, with 18,000 jobs being added, following an increase of 88,000 in May. On a year-over-year basis, employment was up by 99,000 jobs in June. The unemployment rate for returning students aged 15 to 24 was 15.3 per cent in June, down 2.1 percentage points from June 2025 (17.4 per cent). Among all returning students who were employed in June, most worked in retail trade (25.7 per cent), accommodation and food services (23.3 per cent) and information, culture and recreation (13.0 per cent).

Nationally, average hourly wages among employees were up 3.3 per cent (+$1.19 to $37.20) on a year-over-year basis in June, following growth of 3.0 per cent in May.

Employment in manufacturing, a major employer and key sector in Vaughan, decreased by 17,000 jobs (-0.9 per cent) nationally in June.

 

National Real Gross Domestic Product grew 0.3 per cent in May, rising for a second consecutive month, after April’s 0.5 per cent growth.

Real gross domestic product (GDP) grew 0.3 per cent in May, rising for a second consecutive month, as both goods-producing and services-producing industries expanded in the month. Goods-producing industries increased 0.6 per cent, while services-producing industries rose 0.2 per cent. In total, 13 of Canada’s 20 industrial sectors contributed to the growth

Construction, one of Vaughan’s highest-employing sectors, increased 0.8 per cent in May, with all subsectors expanding. Engineering and other construction activities (+1.1 per cent) and residential building construction (+1.1 per cent) contributed the most to the increase. Apartment buildings drove the increase in residential building construction.

Another one of Vaughan’s key sectors, manufacturing, grew by 0.3 per cent in May. Non-durable goods expanded 1.0 per cent in May, up for the fourth consecutive month. Following three consecutive monthly declines, a rebound in chemical manufacturing (+5.9 per cent) contributed the most to May’s growth, largely driven by a 9.4 per cent increase in pharmaceutical and medicine manufacturing, coinciding with increased exports of pharmaceutical and medicinal products. Durable goods manufacturing industries contracted 0.2 per cent in May, driven in large part by declines in machinery manufacturing (-2.2 per cent) and electrical equipment, appliance and component manufacturing (-4.0 per cent). However, there were increases in fabricated metal product manufacturing (+2.5 per cent) and motor vehicle manufacturing (+4.7 per cent).

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LOCAL TRENDS, INVESTMENTS, AND SUCCESS STORIES

Government of Canada invests $10M in Vaughan-based Hanon Systems to strengthen Canada’s EV manufacturing sector.

The federal government announced a $10 million investment in Hanon Systems (through the Strategic Response Fund) to support the construction of a manufacturing plant in Vaughan. The plant will produce vapour-injected electric compressors for electric and hybrid vehicles. The project’s total cost is $198.75 million, and the plant is expected to produce up to 1.5 million e-compressors per year by 2034. This project is expected to bring in around 300 jobs to Vaughan.

Ontario government announces $55.8M investment to open the first medical school for family doctors in Vaughan at York University School of Medicine.

The York University School of Medicine is expected to open in 2028 and is an investment the province is looking to help reach Ontario’s goal of ensuring every resident has access to a family doctor. The $55.8M investment will help York University with faculty recruitment, building a medical library, and operating its undergraduate and postgraduate programs. The school plans to have 80 undergraduate seats and 102 postgraduate seats when it opens, ultimately growing to 240 undergraduate seats and 293 postgraduate seats.

Volatus Aerospace Partners with Singular Aircraft to Introduce Heavy-Lift Autonomous Aircraft for Canadian Wildfire Response.

Volatus Aerospace Inc., a Vaughan-based global aerospace and defense company, recently announced the next phase of its national wildfire response initiative through a Strategic Partnership with Singular Aircraft S.L., developer of the FlyOx 1 multi-mission heavy-lift autonomous aircraft platform. The agreement establishes Volatus as Singular’s Canadian Strategic Partner and creates the framework for introducing the FlyOx 1 into Canada while evaluating Canadian manufacturing, systems integration, operational deployment, and long-term in-country support. Together, the companies intend to advance a sovereign Canadian capability to support wildfire response, emergency management, and public safety.