Halifax: Economic Snapshot, Q2 2010

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

Check out the snapshot for Q2, 2010

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Halifax: Economic Snapshot, Q2 2010

  1. 1. Economic Snapshot June June June June 09-10 Trend 2nd Quarter 2010 2008 2009 2010 % Change LABOURFORCE Employment (‘000) 207.9 216.5 218.9 1.2% Labour force size (‘000) 219.8 230.3 232.5 1% Participation rate 69.4% 71.8% 71.6% 0.28% Unemployment rate 5.4% 5.9% 5.8% 0.1 CONSUMPTION Inflation rate 3.8% -0.8% 0.6 4.6 Retail sales ($ millions)* $1,515 $1,505 $1,597 6.1% HOUSING Average housing prices $232,685 $239,822 $252,470 5.3% New housing price index 150.5 150.5 150.5 0% = Housing starts* 612 345 651 89% Housing sales* 2277 1995 2009 0.70% CONSTRUCTION Building permits 59.9 65.6 68.7 4.7% ($ millions) Non-residential construction 81 93 100 7.5% ($ millions) OFFICE SPACE Q2 2010 VACANCY RATE Class A Class B Class C % % % Downtown Halifax 5.1 5.1 13.7 Peripheral Halifax 12.9 10.6 10.1 Dartmouth 17.1 14.9 13.4 Bedford/Sackville 14.4 14.0 5.6 AVERAGE RENT (per squarefoot,) Class A Class B Class C Downtown Halifax $17.39 $13.60 $20.50 Peripheral Halifax $15.89 $12.15 $12.68 Dartmouth $15.07 $11.41 $9.78 Bedford/Sackville $15.03 $13.48 $13.24*

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