Aug 7, 2017 – Montreal is the driving force behind a stellar year for the Quebec economy, with unemployment in the city at its lowest level in over a decade.
Statistics Canada figures show unemployment has plunged 1.7 percentage points in a year, from 7.8 per cent in July 2016 to 6.1 per cent in July 2017.
Of the 124,000 jobs created in Quebec over the last year, 115,000 were in Greater Montreal, compared to 44,000 in Toronto and 37,000 in Greater Vancouver. Experts say the figures represent the return of Montreal as the economic powerhouse of Quebec. More people now work in Montreal than the rest of the province combined.
Source: Statistics Canada
Progress in Quebec is now channeled through Montreal, according to key officials, who say business confidence in the city has come on considerably in the last 18 months. Large construction projects and tourism are key growth areas.
Despite the progress, Montreal still has ground to make up. The unemployment rate is still far behind Quebec City’s 4 per cent for July, which dropped from 4.4 per cent in June.
Experts put this down to the faster aging population in the provincial capital, while Montreal attracts the majority of new immigrants to the province, who normally take some time to find work.
Province-wide figures showed Quebec added 4,700 jobs in July, mostly in full time work. In the last 12 months, the province’s unemployment rate fell a significant 1.2 percentage points to 5.8 per cent, the lowest since records began in 1978.
If the trend continues, Quebec could start to see a reversal of the traditional out-migration it has seen to the rest of Canada.
Jobs Data in the Provinces
Jobs change July | Unemployment rate (%) | |
1) Manitoba | 4,800 | 5.0 |
2) British Columbia | -5,100 | 5.3 |
3) Quebec | 4,700 | 5.8 |
4) Ontario | 25,500 | 6.1 |
5) New Brunswick | 200 | 6.5 |
6) Saskatchewan | -400 | 6.6 |
7) Alberta | -14,400 | 7.8 |
8) Nova Scotia | 1,900 | 7.9 |
9) Prince Edward Island | -1,000 | 10.0 |
10) Newfoundland & Labrador | -5,300 | 15.7 |
CANADA | 10,900 | 6.3 |
Source: Statistics Canada
The results were part of an excellent month for the whole of Canada, with the unemployment rate dropping to its lowest since before the 2008 global financial crisis.
Unemployment fell to 6.3 per cent in July 2017, a fall of 0.2 percentage points from the month before and the lowest rate since October 2008.
Employment also slightly increased by 0.1 per cent, or 11,000, the latest Canada jobs report shows.
Demographically, women aged 55 and older saw the strongest employment gain of 14,000, while other groups remained effectively unchanged.
The overall employment growth for 55 to 64-year-olds has grown by 2.9 per cent in the last 12 months, as the Canada jobs statistics support evidence of the country’s aging population.
Canada’s Jobs Snapshot
End June | End July | |
Unemployment rate (%) | 6.5 | 6.3 |
Employment rate (%) | 61.6 | 61.6 |
Labour force participation rate (%) | 65.9 | 65.7 |
Number unemployed | 1,270,300 | 1,246,800 |
Number working | 18,411,000 | 18,421,900 |
Youth (15-24) unemployment rate (%) | 12.0 | 11.1 |
Men (over 25) unemployment rate (%) | 5.8 | 5.6 |
Women (over 25) unemployment rate (%) | 5.3 | 5.5 |
Source: Statistics Canada
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