City of Vaughan

Key Highlights

• The national Consumer Price Index rose 2.2 per cent year-over-year in October, following a 2.4 per cent increase in September. 

• The national unemployment rate dropped by 0.2 per cent to 6.9 per cent in October, while the employment rate rose 0.2 percentage points to 60.8 per cent.     

• National Real Gross Domestic Product increased by 0.2 per cent in September, offsetting August’s drop.   

• In October, the Vaughan Business and Entrepreneurship Centre experienced demand for consulting in other services, retail trade, and accommodations and food services.   

• Ontario Government invests $5 million into three Vaughan-based manufacturing businesses as part of the Ontario Trade Together Fund.   

• The Federal Government advances the Free Trade and Labour Mobility in Canada Act. 

• York Region approves $25 million to support York University’s new School of Medicine in Vaughan.   

• Vaughan welcomes a new 148-suite hotel by Hilton Vaughan Toronto.   

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SELECT Economic Indicators

 

The national Consumer Price Index rose 2.2 per cent year-over-year in October, following a 2.4 per cent increase in September. 

The Consumer Price Index rose 2.2 per cent on a year-over-year basis in October, down from a 2.4 per cent increase in September. The slowed rate of increase was a trend across all 10 provinces, except for Manitoba and British Columbia, both of which saw accelerated increases of 0.1 per cent in October compared to September. 

In Ontario, the Consumer Price Index rose 1.8 per cent year-over-year in October, down slightly by a 0.2 per cent deceleration from September. 

This trend of deceleration is attributed to a 4.8 per cent fall in gasoline prices from September to October. Prices in October dropped at a faster rate of –9.4 per cent year-over-year compared with September (-4.1 per cent).  

Prices for food in October increased by 3.4 per cent year-over-year, slightly down from the 4.0 per cent increase in September. Compared to September, grocery prices dropped 0.6 per cent – the largest decline since September 2020 (-1.1 per cent). However, despite this month-over-month deceleration, grocery prices remain elevated and have remained above inflation for the past nine consecutive months. 

 

The national unemployment rate dropped by 0.2 per cent to 6.9 per cent in October, while the employment rate rose 0.2 percentage points to 60.8 per cent. 

As of October 2025, 60.8% of the population over the age of 14 is employed, with 67,000 new hires in the month. This marks a second consecutive monthly increase in the employment rate, up 0.2 per cent from September. 

This growth in employment is concentrated among men aged 25 to 54 years and youth aged 15 to 24 years. Sectors that saw an uptick in employment were wholesale and retail trade, transportation and warehousing, information, culture and recreation, and utilities, while the construction sector lost 15,000 jobs.  

6.9 per cent of the country’s labour force is currently unemployed; however, this number is down by 0.2 per cent from September.  

The average hourly wage in October was $37.06, up by $1.37 from last year – a 3.5 per cent increase year over year, following a 3.3 per cent year-on-year increase in September. 

 

National Real Gross Domestic Product increased by 0.2 per cent in September, offsetting August’s drop. 

After a decline in August (-0.1 per cent), National Real Gross Domestic Product rose by 0.2 per cent in September, largely driven by goods–producing industries, which rose by 0.6 per cent, with higher activity in the manufacturing sector (1.6 per cent expansion) driving much of the growth. In the service sector, transportation and warehousing led the way, rebounding 1.2 per cent in August due to the expansion of several subsectors in September. For example, air transportation in September saw its largest monthly rise since 2022 at 6.0%, following the resumption of airline operations after disruptions from the flight attendant work stoppage in August 2025. Additionally, despite the nationwide strike by the Canadian Union of Postal Workers causing a 5.3 per cent decrease in postal service productivity, the sector actually saw an increase of 0.2 per cent by the end of the month. This was due to a 3 per cent expansion in the couriers and messengers subsector as businesses and consumers turned to alternative carriers to fulfil their shipping needs.  

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LOCAL TRENDS, INVESTMENTS, AND SUCCESS STORIES 

 

In October, the Vaughan Business and Entrepreneurship Centre experienced demand for consulting in other services, retail trade, and accommodations and food services. 

In October, the top five industries seeking small business or entrepreneurship consultations were: 

1. Other Services (24 per cent) 

1. Retail Trade (18 per cent) 

1. Accommodations and Food Services (12 per cent) 

1. Healthcare and social assistance (11 per cent) 

1. Professional Scientific & Technical Services (9per cent) 

*Other services include: repair centers for motor vehicles, pet care services, funeral, laundry, photo finishing, etc. 

 

Ontario Government invests $5 million into three Vaughan-based manufacturing businesses as part of the Ontario Trade Together Fund. 

In mid-November, Victor Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade, joined Mayor Steven Del Duca in Vaughan to announce the Ontario Trade Together Fund – a new funding initiative to protect tariff-impacted workers and businesses across the province. Through this program, the Ontario government is investing $16.6 million in investment projects to build resilience and reshore supply chains. This program is expected to support over $120 million in total investments and protect or create 1,500 jobs across the province. Three Vaughan-based companies were selected to receive investments from the Ontario Trade Together fund:  

• Burnco Manufacturing Inc. receiving $2.5 million toward an $8M expansion, creating 75 new jobs and safeguarding 215 positions 

• Heali Medical Corp. receiving $1.7 million to re-shore production from China and expand into global markets, creating 12 jobs and protecting 5 more 

• Letar Inc. receiving $800K+ to establish a new chemical processing facility, creating 9 jobs and safeguarding 32 positions.  

These investments underscore Vaughan’s continued leadership in advanced manufacturing, life sciences, and global trade, and demonstrate how our city plays a key role in building a more resilient Ontario economy. 

 

The Federal Government advances the Free Trade and Labour Mobility in Canada Act. 

The Government of Canada recently announced the upcoming release of finalized regulations under the Free Trade and Labour Mobility in Canada Act (FTLMCA). While the legislation received Royal Assent in June 2025, final regulations are still being developed, and enforcement timelines will be announced in due course. The Act sets the stage for historic reforms to Canada’s internal economy, and these developments are especially relevant for Vaughan-based businesses and professional services providers looking to scale across provincial and territorial lines.  

The Act aims to remove federal barriers that restrict the movement of goods, services and labour across Canada by recognizing equivalent provincial and territorial standards. It is designed to eliminate redundant federal licensing, certification or regulatory requirements when provincial/territorial ones already apply. The ultimate intention of this legislation is to unlock economic value, removing internal trade barriers that could boost Canada’s GDP by up to $200 billion over time. For Vaughan businesses, particularly those in manufacturing, logistics, construction and professional services, these reforms could be game-changing. When the Act comes into force, businesses can expect easier market expansion into new provinces/territories, simplified hiring across Canada, and optimized interprovincial supply chains. 

 

York Region approves $25 million to support York University’s new School of Medicine in Vaughan.  

York Region Council has approved its 2026 budget, which includes a $25 million capital investment to support the development of York University’s new School of Medicine, to be built in the Vaughan Healthcare Centre Precinct alongside Cortellucci Vaughan Hospital. This funding will contribute to the physical infrastructure and development of the medical school—Canada’s first built in more than 20 years—and will reinforce Vaughan’s growing position as a hub for healthcare, medical education, and MedTech innovation. The addition of a medical school within the city’s emerging health innovation corridor will strengthen the local talent pipeline, attract new partners, and enhance Vaughan’s role in shaping the future of healthcare delivery across the region. 

 

Vaughan welcomes a new 148-suite hotel by Hilton Vaughan Toronto. 

Vaughan’s accommodations sector continues to grow with the opening of the Home2 Suites by Hilton Vaughan Toronto, a newly built 148-suite extended-stay hotel offering modern amenities and a flexible, guest-focused experience. Officially opened on November 13, the property is led by General Manager and Central Counties Tourism Board Member John Caneco. The addition of Home2 Suites enhances Vaughan’s hospitality landscape, expanding capacity for both business and leisure travellers and contributing to the city’s growing reputation as a welcoming destination for visitors across the Greater Toronto Area.