A declining unemployment rate, rising household income and a growing population — here's what the city's report showed in some key economic indicators last year 👇
The City of St. John's is reporting strong growth in several key economic indicators in 2022. - FileST. JOHN'S, N.L. — The City of St. John's released its 2022 economic review Monday, Feb. 13, showing a declining unemployment rate, rising household income and a growing population.Population - 219,119New homes - 733 units
The number of new homes in the city rose by 34.7 per cent to 733 units in 2022. As the year went on, interest rates began to rise, causing home sales to drop across the country. However, the city said home sales in St. John's were less impacted by the rising rates and uncertainty compared to the rest of Canada. The sale of single detached units in St. John's decreased 9.8 per cent to 888 units in 2022, and the sale of multiple-family units remained steady at 484 units.
The City of St. John’s has released Economic Review 2022, our annual report on economic indicators for the St. John’s Census Metropolitan Area . The economy performed well in 2022, with most economic indicators showing moderate-to-strong growth.
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