Winnipeg The Facts
Manitoba is home to over 1.3 million people, with over 811,000 living in the Winnipeg Census Metropolitan Area (CMA). Winnipeg's population grew by an average of 1.7% each year from 2013 to 2016. Winnipeg is the model of multiculturalism with more than 200 ethnic groups speaking over 130 languages.
Winnipeg’s labour market will hold steady in the near term. The economy is expected to generate a total of some 12,170 net new jobs over 2017–18, following the creation of 13,750 new jobs in the two years prior. Average annual employment growth will remain steady at 1.4% over the next two years, cutting the unemployment rate from 6.5% in 2016 to 5.7% in 2018.
Total housing starts in the Winnipeg CMA increased sharply by close to 50% through eight months of 2017, and are expected to reach relatively high levels by the end of the year. In the resale market, MLS® sales finished off 2016 at 12,871 units, a record high for resale transactions. Sales in 2017 are projected to be slightly higher by the end of the year.
Winnipeg’s economy will see robust growth this year. Real GDP is on track to increase by 3.6% – the strongest growth in almost 20 years.
Winnipeg’s well-diversified manufacturing sector has had a healthy run over the last few years, with output increasing in five of the six years from 2011 to 2016. Growth drivers included solid demand for transportation equipment, a low Canadian dollar, a healthy U.S. consumer, and low interest rates.
Activity remains vibrant for local bus manufacturers and aerospace firms. New Flyer Industries posted strong financial results in the first half of the year, with net earnings of US$80.7 million—a 40.6% increase from the same period last year. On the aerospace side, the federal government has awarded Standard Aero a $45-million contract for engine maintenance for the CP-140 Aurora and the CC-130H Hercules aircraft for the Canadian armed forces fleet. The contract is for over four years, with possibility of extension to 2030. As well, Airbus has selected Magellan Aerospace to manufacture exhaust systems for A320neo PW aircraft.
- Conference Board of Canada, Metropolitan Outlook 1, Winter 2017
- Statistics Canada. Table 051-0056 - Estimates of population by census metropolitan area, sex and age group for July 1, based on the Standard Geographical Classification (SGC) 2011, annual (persons), CANSIM (database).
- Statistics Canada. 2017. Census Profile. 2016 Census. Statistics Canada Catalogue no. 98-316-X2016001. Ottawa. Released October 25 2017.
- CMHC, Housing Market Outlook: Winnipeg CMA, Fall 2017