Ontario skills gap costing province more than $24 billion, report says

TORONTO – A new report says a skills gap in Ontario is costing the province more than $24 billion in economic activity.

The report, authored by the Conference Board of Canada, finds that employers can’t find workers with the skills their companies need to innovate and grow in the economy.

Another problem highlighted in the report is that of mismatched skills — people working in jobs that aren’t making full use of their training.

The research found that while a skills gap is costing the province more than $24 billion, mismatched skills are costing an additional $4.1 billion in foregone GDP.

The Conference Board of Canada says this potential revenue could reduce public debt or be invested in much-needed infrastructure improvements.

The report suggests that employers should offer more practical learning options through paid internships and co-op placements.