But when it comes to Ontario specifically, one new report sheds light on what Canada's most populous province can expect economically. This will, the body says, lead to a "modest recession" sometime this year, with an unemployment rates substantially higher than it is already. "Weaker job growth would result in 68,100 fewer jobs in Ontario in 2025, compared to the no-tariff scenario, and 119,200 fewer jobs in 2026. By 2029, under the FAO tariff scenario, there would be 137,900 fewer jobs in Ontario compared to the no tariff scenario," it states. This will raise the province's overall unemployment rate by 1.1 per cent, pushing us to 7.7 per cent by 2029.