CANADA/CARS - Ontario would lose 517,000 auto-sector jobs within five years if the Big Three automakers went out of business, according to a new provincial report. The collapse of General Motors, Ford and Chrysler would send lasting shock waves through the Canadian economy.
Alternatively if auto output by United States-based manufacturers in Canada were cut in half, at least 157,400 jobs would be lost right away, 141,000 of them in Ontario. By 2014, job losses would rise to 296,000 nationally, including 269,000 here.
If production were to cease completely, 323,000 jobs would be lost immediately in Canada, including 281,800 in this province, rising to 582,000 nationally and 517,000 in Ontario by 2014.
The review by the Ministry of Economic Development was released today.
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