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Halifax: Economic Snapshot, Q1 2010
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Halifax: Economic Snapshot, Q1 2010

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The Greater Halifax Partnership measures growth in Halifax, Nova Scotia by tracking key economic indicators to measure economic performance. …

The Greater Halifax Partnership measures growth in Halifax, Nova Scotia by tracking key economic indicators to measure economic performance.

Check out the snapshot for Q1, 2010

Published in: Business

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  • 1. ECONOMIC SNAPSHOT 09-10 March 08 March 09 March 10 Trend Q1 2010 % ChangeLABOURFORCEEmployment (‘000) 211.3 215.9 217.7 1.0% Labour force size (‘000) 219.5 229.6 232.4 1.2% Participation rate 70.4% 71.8% 71.8% 0.0 _Unemployment rate 4.8% 6% 6.4% 0.4 Average Weekly Earnings $688 $758 $772 1.8% HOUSINGAverage housing sale price $218,909 $229,190 $248,065 8.2% * yr to dateNew housing price index 148.2 150.5 151.5 1 Housing starts* 423 274 466 70% Housing sales* 1324 975 1248 27.6% TRANSPORTATIONAircraft passengers* 814,786 721,226 736,791 1.3% (enplaned/deplaned)Total Cargo Volume* N/A 2,358,423 2,389,527 1.3% (metric tonnes)Containerized Imports* N/A 234,323 267,134 14% (metric tonnes)Containerized Exports* N/A 315,542 536,312 70% (metric tonnes)CONSUMPTIONInflation rate 2.2% 0.2% 2.5% 2.3 Retail sales ($ millions)* 1,525 1,466.5 1,590 8.4 CONSTRUCTIONBuilding permits 52.5 27.8 56.0 101.4% ($ millions)Investment in non-residential 72 98 100 2% construction ($ millions)OFFICE SPACEQ1 2010 VACANCY RATE Class A Class B Class C % % %Downtown Halifax 4% 4.5% 14.3%Peripheral Halifax 17.5% 7.8% 6.9%Dartmouth 18.5% 18.3% 12.9%Bedford/Sackville 15.1% 9.0% 5.6%AVERAGE RENT (per squarefoot,) Class A Class B Class CDowntown Halifax $17.46 $13.29 $17.00Peripheral Halifax $15.45 $11.80 $13.41Dartmouth $14.50 $10.96 $9.43Bedford/Sackville $14.86 $13.36 $13.15