Québec City economic statistics

Results from Statistics Canada’s Labour Force Survey (LFS) show that the number of people employed in the Québec City region increased by 17,400 (+4.2%) in August, while the unemployment rate continued to fall, reaching 6.3%. This data indicates that the economic recovery is continuing.

Compared to the beginning of the crisis, the Québec City CMA’s labour market stands out among the other major Canadian CMAs due to its resilience, as the region registered the lowest decline in employment when compared to the level observed in February 2020. According to the LFS, the number of people employed was 433,600 in August, compared to 438,300 in February. This represents a loss of 4,700 jobs (‑1.1%). Although surprising, this positive result is consistent with the fast recovery in employment observed in the province (-5.5%).

Data updated in September 2020

Want to know more? Read our August 2020 analysis.

Economic vitality in the Québec City census metropolitan area (CMA) and a robust labour market supported consumption, a major component of gross domestic product (GDP). Investment, however, was supported by the level of residential investment, with growth reaching a record high in 2018. Not to be outdone, public investment also contributed to the CMA’s economic growth. Overall, the area maintained a growth level similar to that of 2017 (2.4%), a performance that brought the CMA’s real GDP to $35.8B in 2018.

Information updated as of May 2019.

Non-residential investment in the Québec City census metropolitan area (CMA) reached a peak in 2019, with $4.6 billion in expenditures. This performance was supported in part by investment from service-producing industries, which also reached a peak since 2013. The public sector1 , through the various government levels, continues the momentum started after 2015, reaching $2.6 billion in 2019, another peak in the CMA2 . As for residential investment, housing supply resumed its rise, with construction starts estimated at 6,203 new units in 2019. The existing home market also performed well as the resale market registered 8,307 transactions in the CMA, a historical record.

The current pandemic appears in a context where the CMA’s various economic stakeholders, aware of the good economic health and the favourable outlooks in the region, were showing the will to increase investment. While the effects of the current crisis are still difficult to measure, it is clear that the CMA will have to show resilience. Major investment projects, like the structured public transit network, the speeding up of investments planned as part of the Plan québécois des infrastructures, or the government’s announced investment into science and technology projects related to COVID-19, will give the region a stepping stone to continue its economic development

Information updated as of July 2020.

The purchasing power of residents in the Québec City census metropolitan area (CMA) increased in 2019. The disposable income per capita rose 3.1%, the fourth-highest increase among Canada’s eight major CMAs. At the same time, the second-lowest increase in the cost of living was recorded in Québec City with an inflation rate of 1.5%. As a result, real purchasing power per capita grew by 1.6% in the area, the strongest growth among the country’s major metropolitan areas.

In fact, over the last five years (2014-2019), Quebec has seen the highest increases in hourly wages in Canada. A phenomenon that reflects the situation of labour scarcity that is particularly prevalent in the province of Quebec. Workers in the Québec City area saw a wage increase of nearly 16% over this period, the second-highest performance among the country’s eight largest CMAs, behind the Montréal area.

In 2020, the impact of the COVID-19 pandemic will affect household budgets across the country. Although several government measures have been put in place to cushion the shock, some households will face difficult situations.

Information updated as of September 2020.

According to the Institut de la statistique du Québec (ISQ), there were 817,408 residents in the area in 2018, a 0.8% increase compared to the previous year. Despite lower growth compared to the provincial average (+1.1%), the Québec City census metropolitan area (CMA) remains the second most populated in the province. This means that Québec City retains its demographic weight of 9.7%, behind the Montréal CMA (50.7%).

In 2018, population growth was supported by natural increase and immigration, which is consistent with the ISQ’s most recent forecast scenario. The population ageing phenomenon also continues to grow and will remain a concern in the years to come.

Information updated as of May 2019.