Economic Data for Prince Edward Island

Gross Domestic Product (GDP)

Real GDP (a measure of economic growth) has grown negligibly since 2013, rising from $4.5 billion Canadian dollars in 2013 to $4.9 billion Canadian dollars by 2017.

Jobs

From 2016 to 2017 the Private sector has added 2,200 jobs for a total of 74,000. Since 2010 it has added 4,000 jobs and added 10,900 jobs since 2000, showing growth in this sector. The average hourly wage has grown since 2001, rising from $13.50/hr to $20.92/hr in 2017.

From 2016 to 2017 the Manufacturing sector has added 500 jobs for a total of 6,500. Since 2010 it has added 1,500 jobs but only 400 net new jobs since 2000, showing little growth in this sector. The average hourly wage has grown since 2001, rising from $13.10/hr to $20.99/hr in 2017.

From 2016 to 2017 the Transportation and Warehousing sector has added 300 jobs for a total of 2,800. Since 2010 it has added 600 jobs but only 300 jobs since 2000, showing little growth in this sector. The average hourly wage has grown since 2001, rising from $17.08/hr to $22.76/hr in 2015.

Unemployment

The unemployment rate was 9.3% in May 2018, 1.4% less than in 2017.

Housing

The Consumer Price Index (a measure of cost of living) has increased slowly since 2013, going from 128 to 131 from 2013-2017, at the national average of 130. The Consumer Price Index for Housing has not grown since 2013, remaining steady at 133, and below the national average of 136.