Economic News - The Quebec City metropolitan region generated $32.5 billion in real GDP in 2012, a new record. However, the annual increase was only 0.9%, down from 2% in 2011, with the downturn in the labour market in the second half of 2012 and the persistent decline in manufacturing accounting for this more modest showing. Still, the Quebec City CMA recorded average annual growth of 1.9% between 2007 and 2012, one of the highest rates in Canada. Of the country’s eight principal CMAs, only Edmonton (3.4%) and Calgary (2.0%) outpaced Quebec City.
Economic News - The Quebec City census metropolitan area (CMA) recorded Canada’s highest job creation rate in the first quarter of 2013. Outperforming all other Canadian regions, Quebec City posted a quarterly gain of 9,400 jobs, for a total of 428,100. Unemployment fell to 4.4%, one of the lowest rates in the country (the regional unemployment rate has not been this low since early 2010).