Economic Data for Newfoundland and Labrador

Gross Domestic Product (GDP)

Real GDP (a measure of economic growth) has stagnated since 2013, hovering around $26.5 billion Canadian dollars from 2013-2017.

Jobs

From 2016 to 2017 the Private sector has lost 8,500 jobs for a total of 224,000. Since 2010 it has added 1,300 jobs and added 25,300 jobs since 2000, showing growth in this sector. The average hourly wage has grown since 2001, rising from $15.21/hr to $25.27/hr in 2017.

From 2016 to 2017 the Manufacturing sector has lost 700 jobs for a total of 9,100. Since 2010 it has lost 1,200 jobs and 5,900 jobs since 2000, showing decline in this sector. The average hourly wage has grown since 2001, rising from $14.78/hr to $22.18/hr in 2014.

From 2016 to 2017 the Transportation and Warehousing sector has added 1,600 jobs for a total of 11,300. Since 2010 it has lost 900 jobs but added a net 500 since 2000, showing mild growth in this sector. The average hourly wage has grown since 2001, rising from $17.06/hr to $25.50/hr in 2017.

Unemployment

The unemployment rate was 14.5% in May 2018, 0.4% less than in 2017.

Housing

The Consumer Price Index (a measure of cost of living) has consistently increased since 2013, going from 126 to 136 from 2013-2017, above the national average of 130. The Consumer Price Index for Housing is higher (going from 148 to 156 from 2013-2017) and far above the national average of 136.