CIBC’s Canadian Metropolitan Economic Activity Index assesses the relative performance of Canada’s major cities using 9 key macroeconomic variables:
- Population growth
- Employment growth
- Unemployment rate
- Full-time share in total employment
- Personal bankruptcy rate
- Business bankruptcy rate
- Housing starts
- MLS Housing resales, and
- Non-Residential building permits.
During the third quarter of 2011 and for the second time in a row the city of Toronto topped the list, showing the fastest economic momentum as of the third quarter of 2011.
Edmonton was ranked second in the momentum index, reflecting the city’s strong labour market with overall employment rising by almost 8% (year-overyear) in Q3 – the fastest pace among all Canada’s CMAs.
Calgary came in 9th place, but had top 5 placement in the following criteria:
- Population growth (#2, behind only Saskatoon)
- Full-time as share of total employment (#3)
- MLS unit sales (#5)
You can read the entire report here