Yes and in addition, Ontario industry is in a pause (wait and see).  I'm getting the word from workers that contracts are being wound up, overtime shut down and workers told to take holidays and look out for the worst in future.
The CEO of Magna said it best.  They don't pay minimum wage but their suppliers do and they will consider moving all of their industry out of the province.  Then who will be able to go to restaurants and small entertainment businesses when big industry leaves.