Hamilton Community Wellness Indicators - Economic Wellness

Unemployment rate

The unemployment rate for Hamilton CMA represents the number of unemployed persons in the Hamilton CMA expressed as a percentage of the labour force in the Hamilton CMA. The unemployment rate is a 3-month moving average, seasonally adjusted rate. 

In summary: The unemployment rate for Hamilton CMA for December 2017 is 4.6%, up compared with November 2017 at 4.2% and down compared with December 2016 at 5.9%.  Since 2007, the highest reading was 9.1% in September 2009.

Source: Statistics Canada CMA Summary Tables Labour Force Survey

 

Bankruptcies

Numbers of consumers and businesses that have filed for bankruptcy in the Hamilton Census Metropolitan Area including Hamilton, Burlington and Grimsby.

In summary: Consumer bankruptcy for Q3 2017 is down 4.4% versus Q2 2017 and down 15.0% versus Q3 2016.  Business bankruptcy for Q3 2017 is up 28.6% versus Q2 2017 but down 35.7% versus Q3 2016.   

Source: Office of the Superintendent of Bankruptcy Canada

 

Building permits

The total value per million $ of the building permits issued for the month by the City including residential, commercial and industrial projects.

In summary: Building Permits Total $ Value were $62.87 million in December 2017, down $14.86 million or 19.1% versus November 2017 at $77.73 million and down $9.19 million or 12.8% versus December 2016 at $72.06 million.

Source: City of Hamilton

 

Real estate sales

Number of residential units sold according to the REALTORS Association of Hamilton - Burlington (data is for sales in Hamilton only)

In summary: The number of residential units sold in December 2017 was 444 units, down '193 units (or 30.3%) compared with November 2017 but up 2 units (or 0.5%) 'compared with December 2016.

Source: REALTORS Association of Hamilton - Burlington (RAHB)

 

Housing starts

The number of new homes on which construction has been started in the City of Hamilton. Compiled by Canada Mortgage and Housing Corporation, an agency of the Government of Canada.

In summary: Housing Starts in November 2017 were 140 starts, up by 11.1% or 14 starts compared with October 2017 (126 starts) and unchanged compared with November 2016 (140 starts). 

Source: Canada Mortgage and Housing Corporation

 

Canadian Gross Domestic Product

The Canadian Gross Domestic Product, or GDP, is the real value of products and services produced in Canada.

In summary: Canadian GDP for November 2017 was 3.5% (annualized, year-over-year), up versus October 2017 at 3.4%. The Bank of Canada in its January 2018 Monetary Policy Report projects real GDP growth to be 2.2 in 2018 and 1.6% in 2019.

Source: Statistics Canada