The city of London in the Canadian province of Ontario is the tenth largest city in the nation, and enjoys several advantages as far as its location. Halfway between the major urban centres of Toronto and Detroit, London has long been considered an ideal place for businesses to locate when they are looking for quick market access combined with lower overhead costs. It's an ideal work climate for anything from a Canada trademark office to a manufacturing plant.
And, indeed, both those types of businesses and many more have set up operation in London over the last few decades, making its economy one of the most diverse in the province. Still, the current climate has had its effect on London as much as on Toronto to the north, though not quite as bad as on Windsor to the south. While traditionally very stable, the impact of the decline in the automobile industry in particular has hit London hard. The city's urban unemployment rate is currently the second highest in the country, well back from Windsor and slightly behind Toronto at 10.9%.
People thinking about moving to London may be given pause by such numbers, but all the facts of the economy in London must be considered first. Most importantly, this is far from just a one industry town. The large unemployment numbers are due mostly to the fact that so many blue collar workers have lost traditional opportunities within the aforementioned auto industry. Having worked at the same types of jobs, from assembly lines to collision repair, Windsor and London long time residents in these industries have not had to expand their horizons.
However, for the adaptable and educated resident of the city, London has much more to offer than the unemployment rate would suggest. In fact, the combination of a friendly business climate, reasonable real estate prices, and educational opportunities make London one of the most attractive cities in the country for the adaptable resident. Let's take a look at some of the major employers and opportunities in the city.
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Post Secondary Education
Without doubt, the major movers and shakers as far as the London economy is concerned are its upper education institutions. The University of Western Ontario and Fanshawe College serve the region in a number of different ways.
First in importance as far as an article about employment in the area, of course, are the number of jobs provided by these institutions. Combined, these schools enrol over 45,000 students every single year. Those students require services in virtually every area, and London residents fit the bill.
The institutions also provide a major stimulus to the local economy through the research funding they receive each year. The Richard Ivey School of Business of UWO uses the money to predict trends in the economy effected by gold bullion prices, interest rates, and other major developments on the economic scale.
In turn, that research and the students graduating from these institutions are a major attraction for many different companies. Looking to recruit the best and the brightest, several have set up business within the area.
From Labatt's Breweries to Kellogg's, these companies are in the market for a vast array of different skills. They may be looking to hire right into the office or to use the services of an electronic design consultant who works freelance.
Further, this large city is home to the usual number of Canadian franchises, international chains, and local businesses who satisfy the needs of the local population. All in all, it's safe to say that although the initial numbers may not indicate it, employment in London assured for all but the least adaptable.
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