WINNIPEG, MANITOBA — (Marketwired) — 07/17/13 — The next three years will bring 12,000 new jobs to Winnipeg, according to a new report released today by BMO Economics.
The report on Manitoba-s largest city is the latest in a series of economic, housing and business overviews for various cities and regions across Canada that will be published by BMO throughout this year.
“Manitoba-s diverse economy continues to grow at a steady pace,” said Robert Kavcic, Senior Economist, BMO Capital Markets. “Real GDP growth, at 2.0 per cent, is expected to remain above the national average. Stability remains one of Manitoba-s key economic strengths, and the city of Winnipeg is no exception.”
The labour market performance has been steady, with employment growth about matching the national average over the past decade. “Over the medium term, Winnipeg-s labour market should be able to add about 12,000 jobs through 2016,” noted Mr. Kavcic. “This would pull the jobless rate down to around 5 per cent, near the low end of Canada-s major cities.”
“Winnipeg is a strong economic engine for Manitoba and Western Canada, with local businesses providing diverse strengths,” said John MacAulay, Senior Vice-President, Prairies, BMO Bank of Montreal. “With business owners making important investments in new equipment, in expanding their operations and hiring people, the best is yet to come. That-s why BMO has made Winnipeg and Manitoba one of its top priorities, where we are ramping up our investment to provide improved support for our personal and commercial customers.”
The report, released today, revealed:
Manufacturing sector
Energy and Mining
Housing Market
The full report can be downloaded at .
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.
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