The Region of Peel’s economic outlook remains strong in 2019. Key highlights of the Region of Peel’s 2018 Economic Pulse report released July 15, 2019, include:
- Peel continues to grow as it remains attractive to new residents and businesses.
- 64 persons per day became residents of Peel between year-end 2016 and 2018.
- Peel’s population will continue to increase to approximately 2 million residents over the next two decades.
The tremendous growth within the Region continues within broad, generally positive, global macroeconomic changes of the past year:
- Global, national and provincial economies grew in 2018, and labour market conditions improved.
- The Canadian unemployment rate declined to a historic low of 5.8 per cent.
- North American trade uncertainties dissipated but broad uncertainties emerged.
Peel remains an attractive place to live and grow as shared in Peel’s Economic Pulse .
“Peel has a vibrant, growing and increasingly diversified economy with key strategic advantages such as its location in the most vibrant Canadian economic hub and its highly developed transportation network which provides important trade link to the large US market,” said Stephen VanOfwegen, Chief Financial Officer and Commissioner of Finance for the Region of Peel. “These characteristics continued to support growth in Peel as reflected by positive changes in most economic indicators in 2018, making Peel one of the best places to live and invest in Canada.”