This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mid-sized Cities Looking To Recover Recession-era Job Losses

Not all employment news has been negative. Between 2005 and 2012, eight mid-sized cities posted average job growth greater than or close to three per cent per year:

  • Brockville, Ont.
  • Leamington, Ont.
  • Timmins, Ont.
  • Prince Albert, Sask.
  • Lethbridge, Alta
  • Wood Buffalo, Alta.
  • Chilliwack, B.C., and
  • Duncan, B.C.

The Mid-Sized Cities Outlook is The Conference Board of Canada's first such analysis. The publication has historical economic and employment data for 46 mid-sized Canadian cities. Economic forecasts are provided for eight cities that contributed financially to the research - Fredericton, Sept-Îles, Rimouski, Granby, Saint-Jean-sur-Richelieu, Brandon, Lethbridge and Red Deer.

Economic performance 2005-2012

  • In Corner Brook, Nfld., the economy grew strongly from 2005 to 2007, but growth has declined in four of the past five years.
  • Charlottetown posted positive real GDP growth every year from 2005 to 2012 and created more than 4,000 new jobs since 2005.
  • Summerside's economy has expanded every year since 2006, but, surprisingly, the number of jobs in the region has fallen.
  • Following modest growth from 2005 to 2010, Fredericton's economy declined in 2011 and 2012.
  • Bathurst's economy grew for six consecutive years between 2005 and 2010, but growth tailed off the past two years.
  • Edmundston's economy is about the same size as it was eight years ago.
  • Not only has Miramichi's economic output declined every year since 2005, both its 2012 real GDP and employment levels were less than half of what they were eight years ago.
  • Cape Breton's economy has grown every year since 2005, but employment in 2012 was largely the same as it was in the mid-2000s.
  • Truro avoided significant declines during the recession, but economic growth was modest between 2005 and 2012.
  • New Glasgow's economy shrank every year since 2009 and the region has shed almost 6,000 jobs since 2008.

  • Thanks largely to a rising population, output and employment in Sept-Iles grew solidly between 2005 and 2012.
  • Granby posted strong economic growth in five of the past six years, which led to the creation of more than 3,000 jobs during that period.
  • The economy of Rouyn-Noranda/ Val-d'Or grew by more than three per cent annually between 2010 and 2012.
  • After significant declines in real GDP between 2007 and 2009, Rimouski's economy posted three consecutive years of strong growth starting in 2010.
  • Thanks to three years of steady economic growth, Saint-Jean-sur-Richelieu created a total of almost 4,000 new jobs over 2011 and 2012.
  • Baie-Comeau's economy grew for eight consecutive years, but employment shrank by almost 2,000 between 2005 and 2012.
  • Shawinigan's economy was smaller in 2012 than it was in 2005, and the region lost more than 5,000 jobs over this time frame.
  • Real GDP in Drummondville has declined for five consecutive years and employment has fallen by almost 8,000.
  • Saint Hyacinthe's economy has been declining for eight years and both its real GDP and employment levels are nearly half of what they were in 2005.

  • After a difficult period between 2005 and 2009, Leamington has posted explosive economic growth in the last three years, averaging more than eight per cent annually.
  • Since 2005, Brockville has posted strong economic growth and added 4,500 new jobs in the region.
  • Belleville's economy grew by more than four per cent on average between 2010 and 2012.
  • Timmins grew by an average 2.7 per cent per year in each of the last three years and added 5,000 jobs in 2012 alone.
  • The economies in Kawartha Lakes, Cornwall, Norfolk, Sarnia, North Bay and Sault Ste. Marie were about the same size in 2012 as they were 2005.
  • Chatham-Kent's economy shrank in six of the eight years between 2005 and 2012.

  • Wood Buffalo (centered on Fort McMurray) has posted explosive economic growth since 2005 - averaging 6.5 per cent per year - and added almost 17,000 new jobs.
  • Grande Prairie's economy grew by an average of 3 per cent annually between 2005 and 2012.
  • Red Deer rebounded from the 2009 recession with three strong years of economic growth between 2010 and 2012.
  • Lethbridge has posted relatively consistent annual economic growth since 2007, although employment levels have varied from year to year.
  • Medicine Hat's economy declined for five consecutive years between 2008 and 2012, and 14,000 jobs were lost over that period.
  • Moose Jaw's economy grew by a modest 1.2 per cent per year during the 2005-2012 period.
  • Prince Albert has enjoyed economic growth of more than four per cent on an average annual basis since 2007.
  • Brandon's economy contracted by a total of 1.6 per cent between 2008 and 2012, but has enjoyed strong population growth in recent years, a positive indicator moving forward.

British Columbia
  • Prince George's economy has grown by about five per cent annually since 2010.
  • Chilliwack was one of the fastest growing mid-sized economies in the country between 2005 and 2012, with average annual increases in GDP of 6.2 per cent.
  • Duncan lost ground for five consecutive years between 2005 and 2009, but has rebounded with growth averaging 7.5 per cent annually since 2010.
  • Kamloops has posted solid economic and employment growth since 2005.
  • After posting particularly strong increases between 2005 and 2007, the economy of Courtenay, Nanaimo and Dawson Creek expanded at a more modest pace from 2008 to 2012.
  • Vernon's economy has contracted for five consecutive years.

The publication is available upon request.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.99 0.00%
FB $99.54 0.00%
GOOG $678.11 0.00%
TSLA $148.25 0.00%
YHOO $26.82 0.00%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs