Major City Insights: Winnipeg—June 2021

The Conference Board of Canada, June 3, 2021
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In cities across Canada, economic recovery from the devastating impact of the COVID-19 pandemic depends largely on the vaccine rollout and containing the spread of the virus. The hardest-hit sectors of the economy—particularly those that depend on people gathering in public—will take longer to recover.

Document Highlights

  • The gradual reopening of the economy paired with the vaccine rollout will help boost Winnipeg’s GDP by 4.6 per cent overall this year, with output returning to its pre-pandemic level by the third quarter.
  • In turn, employment will grow by 1.5 per cent in 2021, with the city will exceeding its pre-pandemic employment level by the fourth quarter of the year.
  • With the pandemic affecting different industries unevenly, we forecast a K-shaped recovery—in which part of the economy climbs back up while the rest continues to suffer—that could linger on well into 2022 for some sectors.

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