Economic newsEconomic news

2016

Québec City region gains 3,100 jobs in October

Economic News - According to Statistics Canada, the Quebec City census metropolitan area (CMA) created 3,100 jobs in October compared with September, for a total of 445,100 jobs. The number of jobs climbed for the fifth month in a row in Quebec City, the longest such period among Canada's Top 8 metropolitan regions.

Québec City confirms its leading position in Canada by addind 4,200 jobs in August as unemployment stands at 4.7%

Economic News - A total of 4,200 jobs were created in the Quebec City census metropolitan area (CMA) from July to August, the highest gain in the province of Quebec and the second highest in Canada. The region reported a total of 439,600 jobs in August, or the same number as in February.

Real GDP in the Québec City region grows by 1.6% in the first half of 2016

Economic News - The Québec City census metropolitan area (CMA) recorded real GDP of $34.4 billion in the first half of 2016, up 1.6% from the same period in 2015. The region had the strongest growth rate in the province of Québec and one of the highest in the country, particularly in Eastern Canada. Regional economic performance was driven by all sectors, including manufacturing (+4.0%), construction (+1.3%) and services (+0.9%).

Québec City adds 2,900 jobs in July and records the lowest unemployment rate in Canada

Economic News - The Québec City census metropolitan area (CMA) added 2,900 jobs in July 2016, the highest increase in the province of Québec and the third highest in Canada. The region recorded a total of 435,400 jobs in July, for a month-to-month increase of 0.7%. Unemployment stood at 4.3% in July, good for first place in Canada despite a 0.2 point uptick since June.

Corporate tax: Québec City ranked seventh among comparable regions worldwide

Economic News - According to KPMG's report Focus on Tax 2016, tax costs in the Québec City census metropolitan area (CMA) are 46.4% lower than in the US, which serves as the benchmark. Québec City is among the world's Top 10 comparably sized metropolitan regions, i.e. with populations of over 500,000 inhabitants in mature markets. Among the 111 regions studied (all categories combined), Québec City ranked 16th worldwide. It was in next-to-last place in Canada, ahead of Montreal.

Québec City posts the lowest unemployment rate in Canada in the second quarter

Economic News - According to Statistics Canada, the Québec City census metropolitan area (CMA) recorded an unemployment rate of 4.1% in the second quarter of 2016, the lowest in Canada. Unemployment was down considerably from the first-quarter figure of 5.1% due to a sharp drop in the labour force (-1.1%), which outweighed the decrease in the total number of jobs (-0.1%). The Québec City region finished the spring with a total of 432,500 jobs, thus keeping losses at only 300 compared with the first three months of the year.

Unemployment in Québec City drops to 4.2% in May

Economic News - The Québec City census metropolitan area (CMA) recorded an unemployment rate of 4.2% in May, down from 4.5% in April. This was the lowest rate in the province of Québec and the lowest among the Top 8 Canadian CMAs. Once again, the drop in the total workforce (-0.8%) was greater than the total number of jobs available (-0.5%), resulting in a lower unemployment rate.

Unemployment in Québec City falls to 4.5% in April

Economic News - The Québec City census metropolitan area (CMA) recorded 4,5% unemployment in April 2016, down 0,6 points since March and good for second place in Canada. The decline in the workforce (-1,7%) exceeded the drop in job numbers (-1,1%), sending the unemployment rate below the 5% mark.

Unemployment in Québec City edges up to 5.1% in the first quarter

Economic News - The employment market lost a bit of steam in the Québec City CMA in early 2016. The region was home to 432,800 jobs in the first quarter, down 12,500 from the fourth quarter of 2015. The situation, however, is much different from the losses seen in 2011. Five years ago, the region was dealing with a drop in the active working population as well as an increase in the number of jobseekers. This year, the drop in employment was primarily due to the smaller regional workforce.

Business operating costs: Québec City remains #1 in Canada and around the world among comparable regions

Economic News - The Québec City region is outperforming its rivals when it comes to business operating costs. The 2016 edition of KPMG's Competitive Alternatives confirms that Québec City continues to be ranked #1 worldwide among comparably sized urban areas (i.e. over 500,000 inhabitants in mature markets) in terms of its competitive cost advantages. According to this biennial study, it is 16.1% cheaper to set up a company and do business in Québec City, compared with the US average — a marked improvement over the 2014 result (9.3% cheaper).

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