Major City Insights: Halifax—May 2021

The Conference Board of Canada, May 13, 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

  • Halifax’s real GDP is forecast to rebound by 4.9 per cent in 2021 and 3.7 per cent in 2022, supported by the expected easing of restrictions later this year, along with work at the shipyard and the ramping up of construction projects.
  • Although restrictions in the spring have weighed on employment growth, we expect 10,180 jobs will be created in Halifax in 2021, more than recouping the loss of 6,700 jobs last year.
  • One of the main assumptions for this projection is that the vaccine rollout will stay on schedule—with the first dose administered to all residents in the region by the end of June—and restrictions will be eased in the second half of 2021.

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