Overall Economic Development

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The CIBCWM Metropolitan Economic Activity Index (2007) is a measure designed to rank economic development in Canada’s largest CMAs. Nine macroeconomic variables and drivers of economic growth comprise the index: population growth, employment growth, unemployment rate, full-time share in total employment, personal bankruptcy rate, business bankruptcy rate, housing starts, MLS housing re-sales, and non-residential building permits. This index provides a consistent way to compare performance with other cities.

 

Niagara was rated an overall 2.4 on the Metropolitan Activity Index and was way down in ranking on this index in comparison to other municipalities. Overall, Niagara ranked 22nd – the 3rd lowest out of the 24 other largest municipalities measured in Canada.   

 

Figure 25


Source: http://research.cibcwm.com/economic_public/download/metro_monitor.pdf

 

Niagara ranked near the bottom on the employment rate (22nd); full-time share of total employment (22nd); housing starts (18th); non-residential building permits (21st); and MLS Unit sales (20th). Niagara’s unemployment rate ranked 4th highest in Canada compared to the 24 Canadian metropolitan area comparators.

 

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