Winnipeg The Facts
Population
Manitoba is home to over 1.3 million people, with 826,000 living in the Winnipeg Census Metropolitan Area (CMA). Winnipeg's population grew by an average of 1.8% each year from 2014 to 2017. Winnipeg is the model of multiculturalism with more than 200 ethnic groups speaking over 130 languages.
Employment
After a 1.7% increase in 2017, Winnipeg employment is forecast to rise 0.7% in 2018, and 1.9% in 2019. This would lift employment to 443,000, a 12% gain since the 2009 recession. The 2017 employment advance cut the unemployment rate to 5.8%, a three-year low.
Housing
Total housing starts in the Winnipeg CMA increased by 39% in 2017, finishing at 5,621 starts. In the resale market, 2017 finished with a total of 13,525 unit sales, relatively even to the record year of 2016 that had 13,632 unit sales. A new annual dollar volume record was set in 2017 with $3.92 billion in MLS® sales. As of November 2018, year-to-date MLS® dollar volume of $3.36 billion is just shy of 4% off the record pace in 2017.
Economy
Winnipeg's real GDP has not fallen since the 2009 recession, and its growth is forecast to clock in at 2.7% in 2018 and 2.0% in 2019.
Winnipeg's construction sector continues to fire on all cylinders, with output on track to expand by a whopping 11.7% in 2018, following a 6.0% gain in 2016 and 7.7% increase in 2017.
Winnipeg's manufacturing sector is growing at a healthy pace, with output on track to increase by 3.0% in 2018, following an identical expansion in 2017. Industry output is expected to expand 2.4% in 2019 and by a further 2.1% in 2020.
New Flyer Industries and motor coach maker MCI, posted strong results in the third quarter of 2018, with revenues of $605.3 million—a 7% increase over the same period in 2017—and net earnings of $37 million, a 6.9% increase. The bus manufacturer expects to deliver about 4,390 buses in fiscal year 2018.
Winnipeg's aerospace industry remains vibrant. Boeing’s two plants here employ 1,400 workers and will benefit from the firm's decision to boost production of its 787 Dreamliner. Magellan Aerospace, another major local aviation manufacturer that employs roughly 600 workers, continues to work on satellite technology for a future deep space interplanetary mission, funded by an unnamed client. GE Aviation has just spent $26 million to upgrade its Winnipeg testing and research centre, allowing GE to test new engines for Boeing.
Sources:
- Conference Board of Canada, Metropolitan Outlook 1, Autumn 2018
- Statistics Canada. Table 17-10-0078-01 Annual demographic estimates by census metropolitan area, age and sex, based on the Standard Geographical Classification (SGC) 2011
- Statistics Canada. 2017. Census Profile. 2016 Census. Statistics Canada Catalogue no. 98-316-X2016001. Ottawa. Released November 29 2017.
- CMHC, Housing Now Tables Winnipeg CMA, September 2018
- Winnipeg Realtors, Solid December closes out a successful year of MLS® sales activity, Press Release, January 15, 2018
- Winnipeg Realtors, Strong Start to Fourth Quarter, Press Release, November 9, 2018.
