Get the Facts on Halifax's Economy
To learn more about Halifax’s economy and get a definitive look at Halifax’s economic and community progress, read the Halifax Index 2021.
Halifax Economic Dashboard
Economic Snapshot
(Updated: October 2021)
- Halifax's unemployment rate dropped to 6.8% in September, down from 8.6% in September 2020 and the lowest it has been since November 2020. The participation rate saw no change since last month and is roughly the same it was a year ago.
- According to the Conference Board Halifax's GDP dropped 1.9% in 2020, the smallest decline across cities in Canada. They predict Halifax's GDP will rebound 5.7% in 2021.
- Since January 2021, overall employment has increased 2% with the largest growth coming from Professional, Scientific and Technical Services (+21.6%).
- Retail sales in Nova Scotia climbed 9.7% over the past 12 months. All categories are up since January 2021.
- The industrial vacancy rate fell in Q3 to 3.8% as average rents increased 20 cents to $7.90 psf. Office rents remained unchanged in Q3, with the overall vacancy rate down for the second straight quarter to 14.6%.
- Average home prices increased 6.6% from August to September, rising to $471,746. This represents 23.5% price growth since September 2020.
- Halifax saw an annual increase in the Consumer Price Index (CPI) of 4.8% in September.
